NGX MARKET REPORT: Nigerian Equities Extend Rally — NGX Up 0.75%, YTD Return Now 50.85%
The Nigerian stock market continued its upward trajectory on Friday, October 24, 2025, as investors pushed prices higher across key sectors. The NGX All-Share Index (ASI) gained 0.75%, closing at 155,645.03 points, compared to 154,489.90 points from the previous session.
This latest gain has lifted the Year-to-Date (YTD) return of the market to an impressive 50.85%, showing strong investor optimism and sustained momentum as the year draws closer to its end.
Market Activity Overview
Trading activity was upbeat. The volume of shares traded rose significantly by 30.97%, moving from 902.77 million units in the previous session to 1.18 billion units. Similarly, market turnover—the total value of shares exchanged—also increased by 9.54%, rising from ₦24.98 billion to ₦27.36 billion, executed across 27,533 deals.
The day’s market breadth stood at 1.33x, reflecting a positive trading mood as 36 stocks advanced, while 27 stocks declined. Volume increased in 62 companies and fell in 77 others, underscoring selective buying by investors.
Top Performers Over the Last Five Trading Days
Among the strongest gainers in the past five sessions was ASO Savings and Loans Plc, which surged by 32%, buoyed by renewed investor confidence following the lifting of its trading suspension on the Nigerian Exchange. Aradel Holdings also performed strongly, climbing 23.4% within the same period, while PZ Cussons advanced by 14.19%, continuing its impressive performance streak for the year.
Dangote Cement maintained its dominance, gaining 10.83% in the last five days as demand for blue-chip stocks remained solid. NASCON Allied Industries and Sky Aviation also advanced, both rising by over 10%, while the Vetiva Industrial ETF posted a 10% gain, reflecting improved sentiment toward industrial and diversified assets.
Other notable gainers included Wema Bank, which appreciated by 9.92%, Eunisell, up 8.93%, and CAP Plc, which rose 8.82%. The strong performance across these stocks contributed significantly to the overall market rally.
Top Decliners Over the Last Five Trading Days
On the flip side, RT Briscoe led the losers’ chart, shedding 9.84% as investors took profits from recent gains. John Holt and Multiverse Mining both declined by about 9.7%, while LivingTrust Mortgage Bank dropped 9.68%, reflecting weak sentiment in the financial services space.
Stanbic IBTC Holdings lost 9.15%, while Union Dicon Salt and Neimeth Pharmaceuticals declined by 9.09% and 6.67%, respectively. NewGold ETF also weakened by 7.89%, indicating mild corrections in the commodities segment. Conoil fell by 5.83%, and Regency Insurance dipped by 5.80%, both experiencing slight pullbacks after previous gains.
Despite these losses, it’s worth noting that several of these stocks, including Stanbic IBTC, Neimeth, and Multiverse, still maintain positive year-to-date returns, showing that the pullbacks are likely short-term adjustments rather than broad market weakness.
Top Daily Gainers and Losers
At the close of trading, ASO Savings and Loans Plc once again dominated the day’s gainers’ chart, rising by 10% to close at ₦0.66. The Vetiva Industrial ETF also gained 10%, finishing at ₦59.40, followed by Ikeja Hotel, which advanced 7.89% to ₦20.50. Regency Insurance rose 7.44%, while Caverton Offshore Support Group gained 7.08% to close higher at ₦6.50.
On the losers’ side, Union Dicon Salt Plc fell the most, losing 9.09% to close at ₦8.00, while Neimeth Pharmaceuticals declined 6.67% to ₦5.60. Other notable losers included Cornerstone Insurance, which dipped 5.61%, Lotus Halal ETF, down 5.06%, and HMC Allied, which fell 4.84%.
Market Sentiment and Outlook
The continued uptrend in the market reflects renewed investor optimism, likely fueled by strong earnings releases, corporate actions, and broader confidence in Nigeria’s macroeconomic outlook. The lifting of ASO Savings and Loans Plc’s trading suspension has also injected fresh excitement into the market, as investors reposition themselves for long-term gains.
With the NGX All-Share Index now boasting over 50% YTD growth, the Nigerian equities market remains one of the best-performing markets in Africa for 2025. However, as valuations climb, investors are encouraged to stay selective, focusing on fundamentally sound stocks and sectors with consistent earnings potential.
The Nigerian stock market continued its upward trajectory on Friday, October 24, 2025, as investors pushed prices higher across key sectors. The NGX All-Share Index (ASI) gained 0.75%, closing at 155,645.03 points, compared to 154,489.90 points from the previous session.
This latest gain has lifted the Year-to-Date (YTD) return of the market to an impressive 50.85%, showing strong investor optimism and sustained momentum as the year draws closer to its end.
Market Activity Overview
Trading activity was upbeat. The volume of shares traded rose significantly by 30.97%, moving from 902.77 million units in the previous session to 1.18 billion units. Similarly, market turnover—the total value of shares exchanged—also increased by 9.54%, rising from ₦24.98 billion to ₦27.36 billion, executed across 27,533 deals.
The day’s market breadth stood at 1.33x, reflecting a positive trading mood as 36 stocks advanced, while 27 stocks declined. Volume increased in 62 companies and fell in 77 others, underscoring selective buying by investors.
Top Performers Over the Last Five Trading Days
Among the strongest gainers in the past five sessions was ASO Savings and Loans Plc, which surged by 32%, buoyed by renewed investor confidence following the lifting of its trading suspension on the Nigerian Exchange. Aradel Holdings also performed strongly, climbing 23.4% within the same period, while PZ Cussons advanced by 14.19%, continuing its impressive performance streak for the year.
Dangote Cement maintained its dominance, gaining 10.83% in the last five days as demand for blue-chip stocks remained solid. NASCON Allied Industries and Sky Aviation also advanced, both rising by over 10%, while the Vetiva Industrial ETF posted a 10% gain, reflecting improved sentiment toward industrial and diversified assets.
Other notable gainers included Wema Bank, which appreciated by 9.92%, Eunisell, up 8.93%, and CAP Plc, which rose 8.82%. The strong performance across these stocks contributed significantly to the overall market rally.
Top Decliners Over the Last Five Trading Days
On the flip side, RT Briscoe led the losers’ chart, shedding 9.84% as investors took profits from recent gains. John Holt and Multiverse Mining both declined by about 9.7%, while LivingTrust Mortgage Bank dropped 9.68%, reflecting weak sentiment in the financial services space.
Stanbic IBTC Holdings lost 9.15%, while Union Dicon Salt and Neimeth Pharmaceuticals declined by 9.09% and 6.67%, respectively. NewGold ETF also weakened by 7.89%, indicating mild corrections in the commodities segment. Conoil fell by 5.83%, and Regency Insurance dipped by 5.80%, both experiencing slight pullbacks after previous gains.
Despite these losses, it’s worth noting that several of these stocks, including Stanbic IBTC, Neimeth, and Multiverse, still maintain positive year-to-date returns, showing that the pullbacks are likely short-term adjustments rather than broad market weakness.
Top Daily Gainers and Losers
At the close of trading, ASO Savings and Loans Plc once again dominated the day’s gainers’ chart, rising by 10% to close at ₦0.66. The Vetiva Industrial ETF also gained 10%, finishing at ₦59.40, followed by Ikeja Hotel, which advanced 7.89% to ₦20.50. Regency Insurance rose 7.44%, while Caverton Offshore Support Group gained 7.08% to close higher at ₦6.50.
On the losers’ side, Union Dicon Salt Plc fell the most, losing 9.09% to close at ₦8.00, while Neimeth Pharmaceuticals declined 6.67% to ₦5.60. Other notable losers included Cornerstone Insurance, which dipped 5.61%, Lotus Halal ETF, down 5.06%, and HMC Allied, which fell 4.84%.
Market Sentiment and Outlook
The continued uptrend in the market reflects renewed investor optimism, likely fueled by strong earnings releases, corporate actions, and broader confidence in Nigeria’s macroeconomic outlook. The lifting of ASO Savings and Loans Plc’s trading suspension has also injected fresh excitement into the market, as investors reposition themselves for long-term gains.
With the NGX All-Share Index now boasting over 50% YTD growth, the Nigerian equities market remains one of the best-performing markets in Africa for 2025. However, as valuations climb, investors are encouraged to stay selective, focusing on fundamentally sound stocks and sectors with consistent earnings potential.