The Nigerian Exchange (NGX) closed the trading week ended September 26 on a positive note, as the All-Share Index (ASI) advanced by 287.68 points to finish at 142,133.03. This marks a 0.20% increase compared to the previous week’s close of 141,845.35. The rally, largely fuelled by gains in heavyweight stocks, pushed the month-to-date performance to 1.31%.
Trading activity also picked up momentum, with the total traded volume climbing to 2.9 billion shares, slightly above the 2.7 billion shares recorded in the preceding week. Market capitalization inched higher as well, rising to ₦89.96 trillion from ₦89.74 trillion the previous week, reflecting a modest but broad-based upward movement in share prices.
Market Breadth
The breadth of the market leaned bearish despite the overall positive close. A total of 32 equities recorded gains, a decline from the 40 that appreciated the prior week. Conversely, 51 stocks shed value, compared to 41 the week before, while 64 remained unchanged.
Weekly Trading Pattern
The ASI began the week on a weak footing, with losses on Monday and Tuesday dragging the index down to 140,716 by Wednesday. A rebound on Thursday restored positive sentiment, which was further sustained on Friday, enabling the index to close the week above 142,000 points. Quarter-to-date, the ASI has climbed 18.47%, while year-to-date gains stand at an impressive 38.09%.
Major Indices Performance
The NGX Premium Index rose 0.48%, supported by strong performances from:
- Zenith Bank: +9.14%
- Lafarge Africa: +4.00%
- Dangote Cement: +1.72%
- UBA: +1.58%
The NGX Main Board Index added 0.03%, while the NGX 30 Index appreciated by 0.24%.
Sectoral Performance
- Industrial Goods Index: Up 1.33%, driven by Lafarge (+4%) and Dangote Cement (+1.72%).
- Banking Index: Rose 1.19%, boosted by Zenith Bank (+9%) and Stanbic IBTC (+9%), with support from UBA and FCMB.
- Consumer Goods Index: Advanced 1.15%, led by International Breweries, which surged over 10%.
- Oil & Gas Index: Declined 1.62%.
- Insurance Index: Fell 0.91%.
Top Gainers of the Week
- Thomas Wyatt Nigeria Plc: +22.68% to close at ₦3.30
- Secure Electronic Technology Plc: +21.33% to ₦0.91
- Mecure Industries Plc: +20.83% to ₦26.10
- Chellarams Plc: +11.30% to ₦16.25
- Royal Exchange Plc: +10.29% to ₦2.25
- The Initiates Plc: +10.17% to ₦13.22
- International Breweries Plc: +10.08% to ₦13.65
- Eunisell Interlinked Plc: +9.98% to ₦33.60
- Chams Holding Company Plc: +9.68% to ₦3.40
- Stanbic IBTC Holdings Plc: +9.29% to ₦107.10
Top Losers of the Week
- Wema Bank Plc: -12.41% to close at ₦18.00
- Fidelity Bank Plc: -11.08% to ₦18.45
- Eterna Plc: -10.00% to ₦27.90
- Ikeja Hotel Plc: -9.80% to ₦20.70
- Africa Prudential Plc: -9.09% to ₦14.50
- Cutix Plc: -8.57% to ₦3.20
- Deap Capital Management & Trust Plc: -8.51% to ₦1.72
- Union Dicon Salt Plc: -8.16% to ₦9.00
- May & Baker Nigeria Plc: -7.43% to ₦16.20
- Caverton Offshore Support Group Plc: -5.30% to ₦6.25
Corporate Developments
Several notable corporate announcements shaped investor sentiment during the week:
- Stanbic IBTC Holdings released its half-year results and declared an interim dividend of ₦2.50.
- GTCO published its H1 2025 financial performance.
- First HoldCo appointed a new Group Secretary and disclosed insider share acquisitions by Chairman Femi Otedola.
- Julius Berger approved the lease of its cashew processing assets.
- Aradel Holdings announced that Capital Alliance divested its 15.9% equity stake in the company.
Market Outlook
Despite a slow start to the week, strong recoveries in banking and industrial blue-chip stocks ensured that the ASI closed firmly above the 142,000 mark. Analysts suggest that if momentum in the banking sector continues, the index could retest the 143,000 and 144,000 thresholds in the coming sessions.
