NGX Market Pulse (Monday, September 15, 2025)- Nigerian Equities Market Starts the Week on a Strong Note
The Nigerian stock market opened the week on a bullish footing as the All Share Index (ASI) advanced by +0.79%, closing at 140,545.69 points. This fresh push lifted the year-to-date (YTD) return to an impressive +37.29%, underscoring the strong resilience of equities in 2025.
One of the biggest highlights of the day was the massive surge in turnover, which jumped +226.9% to ₦23.09 billion, accompanied by a trading volume of 536.60 million shares. This spike indicates renewed activity and appetite, particularly from institutional investors.
Market Participation
• Retail investors were very active, driving 63% of trade counts.
• However, institutional investors dominated where it mattered most: they accounted for 60% of trading volume and an overwhelming 92% of trade value, confirming their influence in price-setting.
Market Breadth
The market had a positive breadth ratio of 1.16x, with 36 gainers against 31 losers. This reflects a subtle but steady bullish undertone, even though some profit-taking was visible in recently strong names.
Key Market Movers
• Top Gainers:
• MERVALUE ETF (+10.00% to ₦220.00) – demand for ETFs continues to surge.
• LIVINGTRUST (+9.96% to ₦5.08) – strong rebound despite volatility.
• ETRANZACT (+9.70% to ₦16.40) – fintech star, now up over +152% YTD.
• REGALINS (+9.64% to ₦1.82) – insurance play with strong volume momentum.
• NNFM (+8.62% to ₦93.90) – solid breakout in the food sector.
• Top Losers:
• MCNICHOLS (-9.90% to ₦3.55) – sharp reversal, loss of momentum.
• HONYFLOUR (-9.13% to ₦20.90) – continued downtrend, breached key support levels.
• UACN (-8.01% to ₦67.15) – heavy institutional sell-off, volumes 18x above average.
• OMATEK (-7.58% to ₦1.22) – small-cap vulnerability.
• CHAMPION (-6.00% to ₦15.98) – technical signals mixed despite decline.
Standout Trading Activity
• GEREGU saw 128x its average volume but closed flat, a strong signal of institutional rebalancing.
• ZENITHBANK attracted heavy institutional flows, making up over 20% of institutional trade value, reflecting confidence in tier-one banks.
• Insurance stocks like REGALINS and LASACO drew unusual volumes, suggesting a defensive rotation into dividend-paying financial names.
Analyst Insights
• The turnover spike points to renewed institutional engagement in both ETFs and large-cap names.
• Momentum remains strong in fintech (ETRANZACT), insurance (REGALINS, LASACO), and defensive consumer plays (NNFM, VITAFOAM).
• Some laggards such as UACN and HONYFLOUR show classic sell-off signals, with heavy volumes and price declines, pointing to possible fund rotation away from them.
Strategy Pointers for Investors
• Momentum trades: ETRANZACT, MERVALUE, REGALINS, NNFM (trend-following opportunities).
• Defensive yield: VITAFOAM, REGALINS, AFRIPRUD (strong dividend + momentum case).
• Caution zone: UACN, MCNICHOLS, HONYFLOUR (negative price-volume signals).
• Institutional magnets: Watch ZENITHBANK and GEREGU—large flows here may trigger sector-wide moves.
✅ Summary:
The market’s bullish momentum is intact with the ASI gaining +0.79% and turnover surging. Institutional flows are back in full swing, especially in ETFs, banking, and insurance. While fintech and mid-cap names keep delivering strong upside, some profit-taking is hitting previous high-fliers. Investors should stay alert to institutional clustering in ZENITHBANK and GEREGU while leveraging dividend-yielding insurers and consumer stocks for defensive growth.
The Nigerian stock market opened the week on a bullish footing as the All Share Index (ASI) advanced by +0.79%, closing at 140,545.69 points. This fresh push lifted the year-to-date (YTD) return to an impressive +37.29%, underscoring the strong resilience of equities in 2025.
One of the biggest highlights of the day was the massive surge in turnover, which jumped +226.9% to ₦23.09 billion, accompanied by a trading volume of 536.60 million shares. This spike indicates renewed activity and appetite, particularly from institutional investors.
Market Participation
• Retail investors were very active, driving 63% of trade counts.
• However, institutional investors dominated where it mattered most: they accounted for 60% of trading volume and an overwhelming 92% of trade value, confirming their influence in price-setting.
Market Breadth
The market had a positive breadth ratio of 1.16x, with 36 gainers against 31 losers. This reflects a subtle but steady bullish undertone, even though some profit-taking was visible in recently strong names.
Key Market Movers
• Top Gainers:
• MERVALUE ETF (+10.00% to ₦220.00) – demand for ETFs continues to surge.
• LIVINGTRUST (+9.96% to ₦5.08) – strong rebound despite volatility.
• ETRANZACT (+9.70% to ₦16.40) – fintech star, now up over +152% YTD.
• REGALINS (+9.64% to ₦1.82) – insurance play with strong volume momentum.
• NNFM (+8.62% to ₦93.90) – solid breakout in the food sector.
• Top Losers:
• MCNICHOLS (-9.90% to ₦3.55) – sharp reversal, loss of momentum.
• HONYFLOUR (-9.13% to ₦20.90) – continued downtrend, breached key support levels.
• UACN (-8.01% to ₦67.15) – heavy institutional sell-off, volumes 18x above average.
• OMATEK (-7.58% to ₦1.22) – small-cap vulnerability.
• CHAMPION (-6.00% to ₦15.98) – technical signals mixed despite decline.
Standout Trading Activity
• GEREGU saw 128x its average volume but closed flat, a strong signal of institutional rebalancing.
• ZENITHBANK attracted heavy institutional flows, making up over 20% of institutional trade value, reflecting confidence in tier-one banks.
• Insurance stocks like REGALINS and LASACO drew unusual volumes, suggesting a defensive rotation into dividend-paying financial names.
Analyst Insights
• The turnover spike points to renewed institutional engagement in both ETFs and large-cap names.
• Momentum remains strong in fintech (ETRANZACT), insurance (REGALINS, LASACO), and defensive consumer plays (NNFM, VITAFOAM).
• Some laggards such as UACN and HONYFLOUR show classic sell-off signals, with heavy volumes and price declines, pointing to possible fund rotation away from them.
Strategy Pointers for Investors
• Momentum trades: ETRANZACT, MERVALUE, REGALINS, NNFM (trend-following opportunities).
• Defensive yield: VITAFOAM, REGALINS, AFRIPRUD (strong dividend + momentum case).
• Caution zone: UACN, MCNICHOLS, HONYFLOUR (negative price-volume signals).
• Institutional magnets: Watch ZENITHBANK and GEREGU—large flows here may trigger sector-wide moves.
✅ Summary:
The market’s bullish momentum is intact with the ASI gaining +0.79% and turnover surging. Institutional flows are back in full swing, especially in ETFs, banking, and insurance. While fintech and mid-cap names keep delivering strong upside, some profit-taking is hitting previous high-fliers. Investors should stay alert to institutional clustering in ZENITHBANK and GEREGU while leveraging dividend-yielding insurers and consumer stocks for defensive growth.