The Nigerian Exchange (NGX) All-Share Index (ASI) ended the week of October 31, 2025, lower, breaking a seven-week bullish run as investors moved to take profits across key sectors.
The benchmark index dropped by 1,518.6 points, closing at 154,126.46 compared to the previous week’s 155,645.05, marking a 0.98% weekly loss. Market capitalization correspondingly slipped from N98.7 trillion to N97.8 trillion, reflecting weaker investor sentiment.
Trading activity also moderated, with 2.5 billion shares changing hands—down from 3.69 billion in the previous week—across 159,487 deals. Market breadth weakened, with 29 gainers against 70 losers, while 47 stocks closed unchanged.
Despite the weekly decline, the NGX remains firmly positive on a year-to-date basis, boasting a 49.74% gain so far in 2025, underscoring its resilience amid global market volatility.
Market Review and Key Performance Metrics
The ASI opened the week with mild declines, shedding 0.10% on Monday and 0.09% on Tuesday before a sharper 1,092.3-point drop on Wednesday. Losses continued into Thursday before a modest rebound on Friday, when the index rose 0.29%.
The NGX Premium Index dipped 1.02%, pressured by declines in major blue-chip stocks such as Dangote Cement (-0.75%), UBA (-4.64%), Lafarge (-3.45%), and Zenith Bank (-6.25%). Similarly, the NGX Main Board Index fell 0.96%, and the NGX 30 Index declined 0.73%.
Sectoral Overview
Among sectoral indices, the Oil and Gas sector emerged as the lone gainer, advancing 0.30%, driven by Oando Plc’s 11.87% rally.
On the downside, the Insurance Index dropped 3.47% following notable losses in AXA Mansard (-13.75%) and Sunu Assurances (-13.27%). The Consumer Goods Index fell 2.73%, dragged by Cadbury Nigeria’s 13.72% loss, while the Banking Index weakened 2.11% due to widespread declines among FUGAZ stocks. The Industrial Goods Index also shed 1.02%, extending the overall bearish sentiment.
Top Gainers
The week’s standout performer was ASO Savings and Loans Plc, which surged 56.06% to close at N1.03. Julius Berger Nigeria Plc followed with a 13.28% gain, ending at N151.80. Other top performers included:
- Oando Plc: +11.87% to N48.05
- Berger Paints Plc: +9.25% to N42.50
- Ecobank Transnational Incorporated: +8.19% to N38.95
- Meyer Plc: +6.95% to N16.15
- International Energy Insurance Plc: +6.14% to N2.94
- Okomu Oil Palm Plc: +5.88% to N1,080.00
- Stanbic IBTC Holdings Plc: +4.48% to N112.00
- Tantalizers Plc: +4.35% to N2.40
Top Losers
Omatek Ventures Plc led the losers’ table, plunging 21.94% to close at N1.21, followed by John Holt Plc, which dropped 16.92% to N5.40.
Other major decliners were:
- Caverton Offshore Support Group Plc: -16.15% to N5.45
- NAHCO Plc: -15.90% to N105.00
- eTranzact International Plc: -15.33% to N12.70
- AXA Mansard Insurance Plc: -13.75% to N13.80
- Cadbury Nigeria Plc: -13.72% to N62.55
- Chams Holding Plc: -13.67% to N3.41
- Sunu Assurances Nigeria Plc: -13.27% to N4.51
- Legend Internet Plc: -13.06% to N5.26
Corporate Actions and Earnings Updates
The trading week saw a flurry of corporate disclosures, including Q3 2025 financial statements from top firms such as Transcorp, BUA Cement, Dangote Cement, Ecobank, GTCO, Livestock Feeds, VFD Group, and Chemical & Allied.
Half-year results were also released by Airtel Africa, while Berger Paints, Seplat Energy, Unilever, Aradel Holdings, and UAC Nigeria published their Q3 updates.
Additionally, TotalEnergies, Wema Bank, Eterna, Fidson Healthcare, MTN Nigeria, UBA, BUA Foods, and Conoil all reported results during the week.
Market Outlook
Analysts expect the NGX to regain positive momentum in the coming sessions, buoyed by improving investor appetite for fundamentally strong stocks and sustained earnings optimism.
Despite the temporary correction, the market remains firmly above the 150,000-point threshold, reinforcing expectations of continued bullish sentiment through the final quarter of 2025.
 All-Share Index (ASI) ended the week of October 31, 2025, lower, breaking a seven-week bullish run as investors moved to take profits across key sectors.){kind=link}