Market Performance
The Nigerian Exchange (NGX) All-Share Index (ASI) gained 0.19% to close at 142,710.48 points. That means the overall market inched higher, continuing its strong momentum for 2025, with an impressive 38.57% year-to-date gain.
However, while prices climbed, trading activity slowed down. Market turnover (the value of shares traded) fell by 13.2% to ₦24.53 billion, with 654 million shares traded compared to over 1.2 billion the previous day. This shows that although the index went up, fewer trades happened — a sign that big institutional investors were more cautious and defensive.
Market Breadth & Participation
• The breadth was positive: 41 stocks gained while 28 declined. That means more companies rose than fell, giving the market a healthy feel.
• But the lower overall trading volume signals that the rise was more selective, not broad-based.
ETFs in Focus
• NEWGOLD ETF (backed by gold) jumped 13.28%. This shows investors are hedging against inflation and volatility by moving into safe-haven assets like gold.
• On the flip side, GREENWETF dropped 10%, showing volatility in alternative investments.
• STANBICETF30 also surged 10%, benefiting from broad interest in market-tracking products.
Top Gainers
The biggest winners included:
• NEWGOLD ETF (+13.28%)
• GREENWETF (+10%)
• PZ Cussons (+10%), supported by strong momentum and unusual trading volume
• STANBICETF30 (+10%)
• Eterna Oil (+9.94%), reflecting energy sector strength
These stocks showed technical strength, with many crossing above their short-term moving averages, suggesting their uptrend could continue.
Top Losers
The worst performers were:
• MERVALUE ETF (-9.95%)
• RT Briscoe (-9.89%), suffering from ongoing bearish sentiment
• Thomas Wyatt (-9.82%)
• Sovereign Insurance (-9.33%)
• International Energy Insurance (-7.78%)
Many of these losers are small caps or weak insurers, which retail traders often speculate on.
Sector Highlights
• Banking stocks stole the show with unusual trading volume. For example, UBA and Wema Bank recorded almost 5x to 17x their normal trading volumes. This signals strong institutional interest and could foreshadow big moves in banks soon.
• Oil & Gas stayed bullish, with Eterna and Aradel showing strong momentum.
• Insurance stocks like Sovereign and International Energy Insurance were weak, dragging that sector lower.
• Consumer goods saw action in PZ Cussons, which rallied sharply.
Technical Signals
• Several gainers like NEWGOLD, PZ, and Eterna broke above their 15-day moving averages, a bullish short-term sign.
• Some notable names like RT Briscoe, Fidelity Bank, Vitafoam, and Honeywell Flour broke below their 15-day averages, a bearish warning.
• Interestingly, no major stock hit “overbought” RSI levels yet, which means some upside could still be left before profit-taking sets in.
Key Investor Takeaways
1. The market is still bullish overall, but lighter trading shows caution.
2. Banks are where the action is — with massive institutional volumes, they could lead the next market direction.
3. Gold (NEWGOLD ETF) is in demand as a hedge, signaling some investors are protecting against risks.
4. Small caps and insurers remain risky, with sharp losses seen in Sovereign Insurance and RT Briscoe.
5. If you’re a trader, stocks like PZ, Eterna, and NEWGOLD are worth monitoring for momentum continuation.
6. If you’re an income-focused investor, high dividend names like Fidelity Bank and Vitafoam are weakening short-term, but might offer entry opportunities if they stabilize.
In summary, the market inched up, but with lighter activity. Banks are flashing early signals of heavy institutional interest, gold is shining as a hedge, and speculative microcaps remain highly volatile. For traders, momentum is still alive in select names, but caution is needed because reduced volume often precedes sharper swings.
The Nigerian Exchange (NGX) All-Share Index (ASI) gained 0.19% to close at 142,710.48 points. That means the overall market inched higher, continuing its strong momentum for 2025, with an impressive 38.57% year-to-date gain.
However, while prices climbed, trading activity slowed down. Market turnover (the value of shares traded) fell by 13.2% to ₦24.53 billion, with 654 million shares traded compared to over 1.2 billion the previous day. This shows that although the index went up, fewer trades happened — a sign that big institutional investors were more cautious and defensive.
Market Breadth & Participation
• The breadth was positive: 41 stocks gained while 28 declined. That means more companies rose than fell, giving the market a healthy feel.
• But the lower overall trading volume signals that the rise was more selective, not broad-based.
ETFs in Focus
• NEWGOLD ETF (backed by gold) jumped 13.28%. This shows investors are hedging against inflation and volatility by moving into safe-haven assets like gold.
• On the flip side, GREENWETF dropped 10%, showing volatility in alternative investments.
• STANBICETF30 also surged 10%, benefiting from broad interest in market-tracking products.
Top Gainers
The biggest winners included:
• NEWGOLD ETF (+13.28%)
• GREENWETF (+10%)
• PZ Cussons (+10%), supported by strong momentum and unusual trading volume
• STANBICETF30 (+10%)
• Eterna Oil (+9.94%), reflecting energy sector strength
These stocks showed technical strength, with many crossing above their short-term moving averages, suggesting their uptrend could continue.
Top Losers
The worst performers were:
• MERVALUE ETF (-9.95%)
• RT Briscoe (-9.89%), suffering from ongoing bearish sentiment
• Thomas Wyatt (-9.82%)
• Sovereign Insurance (-9.33%)
• International Energy Insurance (-7.78%)
Many of these losers are small caps or weak insurers, which retail traders often speculate on.
Sector Highlights
• Banking stocks stole the show with unusual trading volume. For example, UBA and Wema Bank recorded almost 5x to 17x their normal trading volumes. This signals strong institutional interest and could foreshadow big moves in banks soon.
• Oil & Gas stayed bullish, with Eterna and Aradel showing strong momentum.
• Insurance stocks like Sovereign and International Energy Insurance were weak, dragging that sector lower.
• Consumer goods saw action in PZ Cussons, which rallied sharply.
Technical Signals
• Several gainers like NEWGOLD, PZ, and Eterna broke above their 15-day moving averages, a bullish short-term sign.
• Some notable names like RT Briscoe, Fidelity Bank, Vitafoam, and Honeywell Flour broke below their 15-day averages, a bearish warning.
• Interestingly, no major stock hit “overbought” RSI levels yet, which means some upside could still be left before profit-taking sets in.
Key Investor Takeaways
1. The market is still bullish overall, but lighter trading shows caution.
2. Banks are where the action is — with massive institutional volumes, they could lead the next market direction.
3. Gold (NEWGOLD ETF) is in demand as a hedge, signaling some investors are protecting against risks.
4. Small caps and insurers remain risky, with sharp losses seen in Sovereign Insurance and RT Briscoe.
5. If you’re a trader, stocks like PZ, Eterna, and NEWGOLD are worth monitoring for momentum continuation.
6. If you’re an income-focused investor, high dividend names like Fidelity Bank and Vitafoam are weakening short-term, but might offer entry opportunities if they stabilize.
In summary, the market inched up, but with lighter activity. Banks are flashing early signals of heavy institutional interest, gold is shining as a hedge, and speculative microcaps remain highly volatile. For traders, momentum is still alive in select names, but caution is needed because reduced volume often precedes sharper swings.