Nigerian Market Recap – September 8, 2025
The Nigerian equities market closed on another positive note as the NGX All-Share Index (ASI) rose by 0.30%, pushing the year-to-date return to an impressive 35.10%.
The ASI settled at 139,394.75 points, higher than the previous close of 138,980.01 points.
Market Activity
• Volume traded: 905.46 million shares, a sharp 49.71% decline from the previous session’s 1.80 billion.
• Market turnover (value of shares traded): ₦16.22 billion, showing a 5.54% increase compared to the previous ₦15.37 billion.
• Number of deals: 34,086 transactions were recorded.
This tells us that although fewer shares exchanged hands, investors placed higher value trades, signaling strong confidence in select stocks.
Market Breadth
• 42 stocks gained,
• 24 stocks declined,
• Volume was up for 83 companies and down for 56.
This positive breadth (ratio of 1.75x) indicates a market tilted in favor of the bulls.
Top Performers Over the Last 5 Days
Several stocks have shown remarkable performance recently:
• Ellah Lakes climbed 20.93% in 5 days and has surged over 374% year-to-date.
• Veritas Kapital rose 20.56% in 5 days, up nearly 46% YTD.
• Royal Exchange gained 20.47%, with strong year-to-date growth of 87.27%.
• AIICO Insurance increased 20.44% in 5 days and is up an impressive 144% YTD.
• Prestige Assurance, Cornerstone Insurance, Universal Insurance, and Legendary Interiors also recorded double-digit 5-day growth.
• Notably, PZ Cussons surged 13.55% in 5 days and is up 44.86% YTD.
This shows strong momentum in insurance stocks and select consumer goods players.
Top Decliners Over the Last 5 Days
On the other hand, some equities and ETFs struggled:
• Vetiva S&P Nigeria Sovereign Bond ETF (VSPBONDETF) lost 28.29% in 5 days, dropping to ₦265.99 and down over 42% YTD.
• Meristem Growth ETF shed 18.84%, reflecting bearish sentiment in some ETFs.
• Enamelware, Greenwich ETF, IMG, and Thomas Wyatt all fell by 10% each in the period.
• Union Dicon Salt dropped by 10%, though it still holds a 50% YTD gain.
• Academy Press slipped 9.95% after a strong run earlier this year.
• Eterna was down 9.36%, continuing its weak momentum in recent quarters.
Most losers were ETFs and select industrials, suggesting sector-specific corrections.
Daily Top Gainers
• PZ Cussons Nigeria Plc led the gainers, closing at ₦35.20 with a 10% jump.
• University Press Plc (UPL) followed with a 10% gain, closing at ₦5.50.
• Other strong performers included Ellah Lakes (+9.94%), Legendary Interiors (+9.90%), and NCR (+9.84%).
❌ Daily Top Losers
• Vetiva S&P Nigeria Sovereign Bond ETF plunged -24.81%, closing at ₦200.00.
• Union Dicon Salt dropped 10% to close at ₦10.80.
• Thomas Wyatt (-10%), Enamelware (-10%), and Greenwich ETF (-10%) were also among the biggest laggards.
Currency Market Update
In the currency market, the Naira slipped slightly by 0.13% (-₦1.98) against the U.S. Dollar.
Key Takeaways for Investors
1. The market is firmly bullish YTD (+35%), but selective plays are driving value.
2. Insurance stocks are showing consistent strength — many hitting double-digit gains.
3. ETFs are struggling, particularly bond-linked funds, showing investors’ shift towards equities.
4. Consumer and publishing stocks like PZ Cussons and UPL are enjoying renewed demand.
5. The Naira’s mild weakness underscores continued forex pressures, which could influence import-dependent firms.
✨ In summary, the Nigerian stock market remains on a strong upward trajectory, with insurance and consumer plays leading the rally, even as ETFs and a few industrial stocks face pressure.
The Nigerian equities market closed on another positive note as the NGX All-Share Index (ASI) rose by 0.30%, pushing the year-to-date return to an impressive 35.10%.
The ASI settled at 139,394.75 points, higher than the previous close of 138,980.01 points.
Market Activity
• Volume traded: 905.46 million shares, a sharp 49.71% decline from the previous session’s 1.80 billion.
• Market turnover (value of shares traded): ₦16.22 billion, showing a 5.54% increase compared to the previous ₦15.37 billion.
• Number of deals: 34,086 transactions were recorded.
This tells us that although fewer shares exchanged hands, investors placed higher value trades, signaling strong confidence in select stocks.
Market Breadth
• 42 stocks gained,
• 24 stocks declined,
• Volume was up for 83 companies and down for 56.
This positive breadth (ratio of 1.75x) indicates a market tilted in favor of the bulls.
Top Performers Over the Last 5 Days
Several stocks have shown remarkable performance recently:
• Ellah Lakes climbed 20.93% in 5 days and has surged over 374% year-to-date.
• Veritas Kapital rose 20.56% in 5 days, up nearly 46% YTD.
• Royal Exchange gained 20.47%, with strong year-to-date growth of 87.27%.
• AIICO Insurance increased 20.44% in 5 days and is up an impressive 144% YTD.
• Prestige Assurance, Cornerstone Insurance, Universal Insurance, and Legendary Interiors also recorded double-digit 5-day growth.
• Notably, PZ Cussons surged 13.55% in 5 days and is up 44.86% YTD.
This shows strong momentum in insurance stocks and select consumer goods players.
Top Decliners Over the Last 5 Days
On the other hand, some equities and ETFs struggled:
• Vetiva S&P Nigeria Sovereign Bond ETF (VSPBONDETF) lost 28.29% in 5 days, dropping to ₦265.99 and down over 42% YTD.
• Meristem Growth ETF shed 18.84%, reflecting bearish sentiment in some ETFs.
• Enamelware, Greenwich ETF, IMG, and Thomas Wyatt all fell by 10% each in the period.
• Union Dicon Salt dropped by 10%, though it still holds a 50% YTD gain.
• Academy Press slipped 9.95% after a strong run earlier this year.
• Eterna was down 9.36%, continuing its weak momentum in recent quarters.
Most losers were ETFs and select industrials, suggesting sector-specific corrections.
Daily Top Gainers
• PZ Cussons Nigeria Plc led the gainers, closing at ₦35.20 with a 10% jump.
• University Press Plc (UPL) followed with a 10% gain, closing at ₦5.50.
• Other strong performers included Ellah Lakes (+9.94%), Legendary Interiors (+9.90%), and NCR (+9.84%).
❌ Daily Top Losers
• Vetiva S&P Nigeria Sovereign Bond ETF plunged -24.81%, closing at ₦200.00.
• Union Dicon Salt dropped 10% to close at ₦10.80.
• Thomas Wyatt (-10%), Enamelware (-10%), and Greenwich ETF (-10%) were also among the biggest laggards.
Currency Market Update
In the currency market, the Naira slipped slightly by 0.13% (-₦1.98) against the U.S. Dollar.
Key Takeaways for Investors
1. The market is firmly bullish YTD (+35%), but selective plays are driving value.
2. Insurance stocks are showing consistent strength — many hitting double-digit gains.
3. ETFs are struggling, particularly bond-linked funds, showing investors’ shift towards equities.
4. Consumer and publishing stocks like PZ Cussons and UPL are enjoying renewed demand.
5. The Naira’s mild weakness underscores continued forex pressures, which could influence import-dependent firms.
✨ In summary, the Nigerian stock market remains on a strong upward trajectory, with insurance and consumer plays leading the rally, even as ETFs and a few industrial stocks face pressure.