Nigerian Equities Market Recap – May 29, 2025
The Nigerian equities market recorded another downward movement, as the NGX All-Share Index (NGXASI) dipped by 0.08%, closing at 111,818.08 points, a slight drop from the previous close of 111,902.61. Despite the decline, the year-to-date (YTD) return remains positive at 8.37%.
Market Activity
• Trading volume increased significantly by 8.09%, moving from 501.34 million shares previously to 541.90 million shares.
• Market turnover (i.e., the total value of shares traded) also inched up slightly by 0.25%, reaching ₦16.65 billion, compared to the previous ₦16.60 billion.
• These trades were executed across 17,130 deals, reflecting sustained investor activity.
✅ Market Breadth
The market breadth was positive, with 41 stocks advancing compared to 26 decliners, giving a breadth ratio of 1.58x. Out of the companies tracked, 72 saw increased trading volumes, while 67 experienced volume declines.
Top Performing Stocks Over the Last 5 Trading Days
• University Press Plc (UPL) led the charge with a 5-day gain of 28.81%, closing at ₦5.61. It also recorded a daily gain of 9.98%.
• Honeywell Flour Mills (HONYFLOUR) followed with a 21.37% 5-day increase, trading at ₦21.00, and a daily rise of 9.52%.
• Northern Nigeria Flour Mills (NNFM) rose by 17.02% over five days, ending the day at ₦130.55 with a daily gain of 6.40%.
• Other strong performers included VFD Group, Custodian Investment Plc, RT Briscoe, Red Star Express, FTN Cocoa, and the VSP Bond ETF.
Interestingly, stocks like StanbicETF30 and VFD Group, despite previous quarterly and YTD losses, have shown short-term recoveries, suggesting renewed investor interest.
Worst Performing Stocks Over the Last 5 Trading Days
• Abbey Mortgage Bank (ABBEYBDS) was the biggest laggard, plunging by 18.87% to close at ₦6.87, with a sharp daily drop of 9.90%.
• Meyer Plc declined by 10.20%, ending at ₦8.80.
• Greenwich Alpha ETF, SEPLAT, and Legend Internet Plc (LEGENDINT) all recorded steep 5-day losses of around -10%.
• Other notable losers included Sky Aviation, Multiverse, May & Baker, and NPF Microfinance Bank.
Top Gainers of the Day
• Mutual Benefits Assurance (MBENEFIT) led the daily gainers, closing at ₦1.10 with a 10.00% increase.
• UPL followed closely with a 9.98% gain, closing at ₦6.17.
• Academy Press, SCOA, and Livestock Feeds also posted impressive gains ranging from 9.58% to 9.88%.
Top Losers of the Day
• Legend Internet Plc (LEGENDINT) and SEPLAT Petroleum both fell by 10.00%, closing at ₦6.84 and ₦4,964.40 respectively.
• Other notable laggards included Abbey Mortgage, Omatek, and NewGold ETF, which shed as much as 6.30%.
Currency Market Update
In the currency space, the Naira weakened slightly by 0.28% (a loss of ₦4.46), settling at ₦1,601 to the dollar. This indicates a marginal depreciation against the greenback, suggesting sustained FX market pressures.
Bearish Signals (Price Dropped Below 15-Day Moving Average)
The following stocks triggered bearish technical signals:
• GTCO, AIICO, SterlingNG, NPF Microfinance, Learnafrica, NEWGOLD, and FGSUK2027S3.
• Several market indices also recorded negative trends, including NGX Oil & Gas, NGX Premium, NGX Consumer Goods, and NGX MERIVAL.
• This suggests these equities may continue to experience selling pressure in the short term, and close monitoring is advised.
Bullish Signals (Price Crossed Above 15-Day Moving Average)
A few stocks displayed bullish momentum:
• Academy Press (ACADEMY), Livestock Feeds, VFD Group, and Prestige Assurance all crossed above their 15-day moving averages, indicating strong upward momentum.
• This pattern typically attracts the attention of technical traders and signals possible further price appreciation.
Final Note
Market watchers and investors are advised to monitor these signals closely. The mix of technical indicators and market breadth points to selective investor confidence, with more gains concentrated in mid-to-small cap stocks while heavyweight counters saw more downside.
The Nigerian equities market recorded another downward movement, as the NGX All-Share Index (NGXASI) dipped by 0.08%, closing at 111,818.08 points, a slight drop from the previous close of 111,902.61. Despite the decline, the year-to-date (YTD) return remains positive at 8.37%.
Market Activity
• Trading volume increased significantly by 8.09%, moving from 501.34 million shares previously to 541.90 million shares.
• Market turnover (i.e., the total value of shares traded) also inched up slightly by 0.25%, reaching ₦16.65 billion, compared to the previous ₦16.60 billion.
• These trades were executed across 17,130 deals, reflecting sustained investor activity.
✅ Market Breadth
The market breadth was positive, with 41 stocks advancing compared to 26 decliners, giving a breadth ratio of 1.58x. Out of the companies tracked, 72 saw increased trading volumes, while 67 experienced volume declines.
Top Performing Stocks Over the Last 5 Trading Days
• University Press Plc (UPL) led the charge with a 5-day gain of 28.81%, closing at ₦5.61. It also recorded a daily gain of 9.98%.
• Honeywell Flour Mills (HONYFLOUR) followed with a 21.37% 5-day increase, trading at ₦21.00, and a daily rise of 9.52%.
• Northern Nigeria Flour Mills (NNFM) rose by 17.02% over five days, ending the day at ₦130.55 with a daily gain of 6.40%.
• Other strong performers included VFD Group, Custodian Investment Plc, RT Briscoe, Red Star Express, FTN Cocoa, and the VSP Bond ETF.
Interestingly, stocks like StanbicETF30 and VFD Group, despite previous quarterly and YTD losses, have shown short-term recoveries, suggesting renewed investor interest.
Worst Performing Stocks Over the Last 5 Trading Days
• Abbey Mortgage Bank (ABBEYBDS) was the biggest laggard, plunging by 18.87% to close at ₦6.87, with a sharp daily drop of 9.90%.
• Meyer Plc declined by 10.20%, ending at ₦8.80.
• Greenwich Alpha ETF, SEPLAT, and Legend Internet Plc (LEGENDINT) all recorded steep 5-day losses of around -10%.
• Other notable losers included Sky Aviation, Multiverse, May & Baker, and NPF Microfinance Bank.
Top Gainers of the Day
• Mutual Benefits Assurance (MBENEFIT) led the daily gainers, closing at ₦1.10 with a 10.00% increase.
• UPL followed closely with a 9.98% gain, closing at ₦6.17.
• Academy Press, SCOA, and Livestock Feeds also posted impressive gains ranging from 9.58% to 9.88%.
Top Losers of the Day
• Legend Internet Plc (LEGENDINT) and SEPLAT Petroleum both fell by 10.00%, closing at ₦6.84 and ₦4,964.40 respectively.
• Other notable laggards included Abbey Mortgage, Omatek, and NewGold ETF, which shed as much as 6.30%.
Currency Market Update
In the currency space, the Naira weakened slightly by 0.28% (a loss of ₦4.46), settling at ₦1,601 to the dollar. This indicates a marginal depreciation against the greenback, suggesting sustained FX market pressures.
Bearish Signals (Price Dropped Below 15-Day Moving Average)
The following stocks triggered bearish technical signals:
• GTCO, AIICO, SterlingNG, NPF Microfinance, Learnafrica, NEWGOLD, and FGSUK2027S3.
• Several market indices also recorded negative trends, including NGX Oil & Gas, NGX Premium, NGX Consumer Goods, and NGX MERIVAL.
• This suggests these equities may continue to experience selling pressure in the short term, and close monitoring is advised.
Bullish Signals (Price Crossed Above 15-Day Moving Average)
A few stocks displayed bullish momentum:
• Academy Press (ACADEMY), Livestock Feeds, VFD Group, and Prestige Assurance all crossed above their 15-day moving averages, indicating strong upward momentum.
• This pattern typically attracts the attention of technical traders and signals possible further price appreciation.
Final Note
Market watchers and investors are advised to monitor these signals closely. The mix of technical indicators and market breadth points to selective investor confidence, with more gains concentrated in mid-to-small cap stocks while heavyweight counters saw more downside.