The Nigerian All-Share Index (ASI) closed the week ended September 26 higher, gaining 287.68 points to settle at 142,133.03.
This represents a 0.20% rise from the previous week’s close of 141,845.35, driven by rallies in select large-cap stocks, and brings the month-to-date gain to 1.31%.
Market activity picked up slightly, with total volume rising to 2.9 billion shares from 2.7 billion shares the previous week.
Market capitalization grew to N89.96 trillion from N89.74 trillion the previous week, mirroring the modest but broad-based positive price action in the market.
- On the market breadth, 32 equities appreciated in value, down from 40 recorded last week.
- Meanwhile, 51 equities declined, up from 41, while 64 stocks remained unchanged.
Market overview
Price action on the All-Share Index (ASI) began the week on a negative note, slipping on Monday and lingering into Tuesday before easing on Wednesday at 140,716.
The index rebounded on Thursday and gained momentum on Friday, closing the week on a strong note.
- So far, the ASI is up 18.47% quarter-to-date and 38.09% year-to-date.
Key Highlights
The NGX Premium Index rose 0.48%, driven primarily by a 9.14% gain in ZENITH BANK, followed by a 4.00% rise in LAFARGE, a 1.72% increase in DANGOTE CEMENT, and a 1.58% gain in UBA.
The NGX-Main Board Index was up 0.03%, while the NGX 30 Index gained 0.24%.
Sectoral Performance
- The NGX Industrial Goods Index gained 1.33%, supported by LAFARGE’s 4% increase and DANGOTE CEMENT’s 1.72% rise.
- Following closely, the NGX Banking Index rose 1.19%, propelled by over 9% gains in ZENITH BANK and STANBIC, alongside modest increases in UBA and FCMB.
- Meanwhile, the NGX Consumer Goods Index advanced 1.15%, led by INTERNATIONAL BREWERIES, which surged over 10%.
- On the downside, the NGX Oil & Gas Index fell 1.62%, while the NGX Insurance Index declined 0.91%.
Top gainers
Leading the pack was THOMAS WYATT NIG. PLC, which soared 22.68% week-to-date to close at N3.30. SECURE ELECTRONIC TECHNOLOGY PLC followed closely with a 21.33% gain, closing at N0.91.
Other major gainers included:
- MECURE INDUSTRIES PLC: up 20.83% to N26.10
- CHELLARAMS PLC: up 11.30% to N16.25
- ROYAL EXCHANGE PLC: up 10.29% to N2.25
- THE INITIATES PLC: up 10.17% to N13.22
- INTERNATIONAL BREWERIES PLC: up 10.08% to N13.65
- EUNISELL INTERLINKED PLC: up 9.98% to N33.60
- CHAMS HOLDING COMPANY PLC: up 9.68% to N3.40
- STANBIC IBTC HOLDINGS PLC: up 9.29% to N107.10
Top losers
On the flip side, WEMA BANK PLC led the laggards, shedding 12.41% week-to-date to close at N18.00. FIDELITY PLC followed with an 11.08% drop, closing at N18.45.
Other notable decliners were:
- ETERNA PLC: down 10.00% to N27.90
- IKEJA HOTEL PLC: down 9.80% to N20.70
- AFRICA PRUDENTIAL PLC: down 9.09% to N14.50
- CUTIX PLC: down 8.57% to N3.20
- DEAP CAPITAL MANAGEMENT & TRUST PLC: down 8.51% to N1.72
- UNION DICON SALT PLC: down 8.16% to N9.00
- MAY & BAKER NIGERIA PLC: down 7.43% to N16.20
- CAVERTON OFFSHORE SUPPORT GROUP PLC: down 5.30% to N6.25
Corporate actions overview
The week featured several notable corporate disclosures and sector developments:
- Stanbic IBTC released its half-year financial report and declared an interim dividend of N2.50.
- GTCO published its half-year financial results for 2025.
- First HoldCo announced the appointment of a new Group Secretary.
- First HoldCo disclosed share purchases by its Chairman, Otedola.
- The Board of Julius Berger approved the lease of its cashew processing facilities.
- Aradel revealed that Capital Alliance divested from the company, selling a 15.9% stake.
Market outlook
Despite bearish price movements early in the week, the All-Share Index regained the 142,000 level as select large-cap stocks rallied.
If bearish pressure returns in the banking sector and among key large-cap stocks, the index could attempt to test the 143,000 and 144,000 levels again.
