Nigerian Stock Market Weekly Report: NGX Turnover Slumps to N85.20bn Despite ASI Gains
Trading activity on the Nigerian Exchange Limited (NGX) slowed last week as investors exchanged 2.74 billion shares valued at N85.20 billion across 127,284 deals for the week ended September 19, 2025. This marked a drop from the previous week’s 3.19 billion shares worth N99.69 billion in 132,711 deals, a 4.1 per cent decline in total transactions. Analysts attributed the lower turnover to investor caution as participants awaited fresh policy signals and corporate earnings guidance.
The Financial Services Industry dominated the market, accounting for 1.91 billion shares worth N37.83 billion in 56,026 deals, representing nearly 70 per cent of total volume and 44 per cent of value. The ICT sector followed with 184.87 million shares worth N6.19 billion in 12,893 deals, while the Services sector recorded 176.51 million shares valued at N813.25 million in 6,011 deals, underscoring the concentration of activity in a few key industries.
Abbey Mortgage Bank Plc, Fidelity Bank Plc, and United Bank for Africa Plc emerged as the most traded stocks, contributing 875.82 million shares worth N16.42 billion in 11,389 deals — about one-third of the week’s total equity volume. Daily trading patterns were mixed, with September 17 recording the highest activity at 1.00 billion shares worth N24.65 billion, while September 18 posted the lowest at 325.10 million shares valued at N8.41 billion. The week closed on September 19 with 435.18 million shares worth N15.10 billion in 24,293 deals, but only 11 gainers against 43 decliners.
Despite the reduced turnover, the NGX All-Share Index (ASI) climbed 0.92 per cent to close at 141,845.35 points, while market capitalisation added N822.25 billion to settle at N89.74 trillion, bringing the year-to-date return to 37.81 per cent. Most sectoral indices closed positive, with the NGX Main Board Index rising 2.03 per cent, the NGX 30 Index gaining 0.91 per cent, and the NGX Consumer Goods Index surging 5.48 per cent. However, banking and insurance counters lagged as the NGX Banking Index fell 2.57 per cent and the NGX Insurance Index dropped 4.67 per cent due to profit-taking on tier-1 lenders’ half-year results.
Market breadth closed negative as 40 equities appreciated compared with 70 the previous week, while 41 declined and 66 remained unchanged. Guinness Nigeria Plc led the gainers, up 28.60 per cent to N183.90 per share, followed by Multiverse Mining (21.30 per cent) and Eunisell Interlinked (20.28 per cent). Omatek Ventures Plc shed 18.18 per cent to close at N1.08, while Cornerstone Insurance dropped 15.42 per cent to N6.20. Corporate actions included Learn Africa Plc and Northern Nigeria Flour Mills Plc trading ex-dividend, while NGX listed two new futures contracts expiring March 2026. Looking ahead, Cowry Research expects cautious optimism as investors await the outcome of the MPC meeting, with the ASI still showing a bullish trend amid moderating inflation.
source: the sun