Market Recap: NGX Sustains Momentum Amid Mixed Sectoral Performance

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Olori Uwem

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Mar 18, 2024
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Market Recap: NGX Sustains Momentum Amid Mixed Sectoral Performance

Date: Tuesday, October 7, 2025
Source: NGX Daily Market Summary

The Nigerian stock market continued its bullish momentum on Tuesday, with the All-Share Index (ASI) inching up by 0.12% to close at 144,822.78 points. This steady gain pushed the market’s Year-to-Date (YTD) return to an impressive +40.53%, reinforcing investors’ confidence as the final quarter of the year gathers pace.

However, despite the upward movement in the benchmark index, market turnover dropped by 17.45% to ₦10.72 billion, while trading volume also softened to 468.8 million shares, signaling a more cautious trading tone.

Market breadth was narrowly positive, with 41 gainers against 40 losers, showing a tightly contested session between bullish and bearish forces.

Sector Performance and Key Movers

The insurance sector took center stage, leading the day’s rally.
Cornerstone Insurance Plc emerged as the top gainer, advancing by 9.92% to close at ₦6.65, driven by strong investor demand and a breakout above key short-term moving averages.
Close behind was Consolidated Hallmark Insurance Plc, which gained 9.52% to close at ₦4.37, reflecting renewed interest in insurance stocks following recent sector-wide optimism.

Other notable gainers included:
• Chams Plc (+9.22%) — maintaining its stellar YTD return of over 120%.
• VFD Group Plc (+9.17%) — attracting attention as investors diversify beyond the traditional banking names.
• International Energy Insurance Plc (INTENEGINS) (+8.82%) — benefitting from fresh inflows into smaller-cap financial stocks.

On the flip side, the top decliners were led by NewGold ETF, which dropped by 11.01% to ₦51,433.00, extending its year-to-date weakness and signaling continued investor rotation out of defensive asset classes.
LivingTrust Mortgage Bank Plc followed with a 10% decline to ₦5.94, marking a sharp correction after a period of strong price appreciation. Other laggards included Austin Laz & Company Plc (-9.74%), Juli Plc (-9.60%), and Livestock Feeds Plc (-7.50%).

Market Insights

Analysts observed that while the NGX continues its broad uptrend, trading participation was highly selective. Institutional investors dominated activity in Aradel Holdings, Zenith Bank, and AccessCorp, while retail traders were more active in SterlingNG, MTNN, and GTCO.

The insurance sector’s strength was particularly notable, as multiple counters crossed above their short-term moving averages, signaling a potential sector rotation into financials and insurance stocks.

Meanwhile, turnover’s decline hints at a possible pause in momentum or short-term consolidation ahead of upcoming third-quarter earnings releases.

⚡ Quick Takeaway

The NGX remains resilient with a +40.53% YTD gain, underpinned by selective buying and technical breakouts in key sectors.
However, investors are advised to stay cautious, as the combination of mixed sectoral trends and declining turnover may indicate a period of consolidation or profit-taking in the near term.