The Nigerian All-Share Index (ASI) closed the week ended October 31 lower, losing 1,518.6 points and bringing an end to a seven-week winning streak.
Starting the week at 155,645.05, the index slipped to 154,126.46, representing a 0.98% decline amid reduced market activity.
Trading volume moderated to 2.5 billion shares, down from 3.69 billion in the previous week, while equity capitalization also declined from N98.7 trillion to N97.8 trillion across 159,487 deals.
- Market breadth also weakened, as 29 equities appreciated in price during the week, compared to 44 in the previous week.
- Conversely, 70 equities declined, up from 49, while 47 closed unchanged.
Despite this pullback, the Nigerian stock market remains firmly positive year-to-date, with the All-Share Index posting a 49.74% gain so far in 2025.
Market volume and performance review
The All-Share Index started the week in the red, shedding 0.10% on Monday and an additional 0.09% on Tuesday.
The bearish momentum intensified midweek, as the index plunged by 1,092.3 points on Wednesday, with the decline extending into Thursday.
However, the market staged a mild rebound on Friday, gaining 0.29% to close the week.
Key highlights
- The NGX Premium Index slipped 1.02%, dragged by losses in Dangote Cement (-0.75%), UBA (-4.64%), Lafarge (-3.45%), and a 6.25% drop in Zenith Bank.
- Meanwhile, NGX Main Board Index fell 0.96%, and NGX 30 Index declined 0.73%.
Sectoral performance
The NGX Oil and Gas Index was the lone gainer, rising 0.30% on the back of an impressive 11.87% surge in Oando.
- Conversely, the NGX Insurance Index led the losers’ chart, down 3.47%, as AXA Mansard and Sunu Assurances Nigeria fell 13.75% and 13.27%, respectively.
- The NGX Consumer Goods Index followed, dropping 2.73%, with Cadbury Nigeria leading the decline after losing 13.72%.
- NGX Banking Index also weakened by 2.11%, pressured by losses across FUGAZ stocks, while the NGX Industrial Goods Index closed 1.02% lower, extending the overall market downturn.
Top gainers
Leading the pack was ASO SAVINGS AND LOANS PLC, which soared 56.06% week-to-date to close at N1.03. JULIUS BERGER NIGERIA PLC followed closely with a 13.28% gain, ending at N151.80.
Other major gainers included:
- Oando Plc: up 11.87% to N48.05
- Berger Paints Plc: up 9.25% to N42.50
- Ecobank Transnational Incorporated: up 8.19% to N38.95
- Meyer Plc: up 6.95% to N16.15
- International Energy Insurance Plc: up 6.14% to N2.94
- Okomu Oil Palm Plc: up 5.88% to N1,080.00
- Stanbic IBTC Holdings Plc: up 4.48% to N112.00
- Tantalizers Plc: up 4.35% to N2.40
Top losers
On the flip side, OMATEK VENTURES PLC led the laggards, shedding 21.94% week-to-date to close at N1.21, followed by JOHN HOLT PLC, which dropped 16.92% priced at N5.40.
Other notable decliners were:
- Caverton Offshore Support Group Plc: down 16.15% to N5.45
- Nigerian Aviation Handling Company Plc: down 15.90% to N105.00
- eTranzact International Plc: down 15.33% to N12.70
- AXA Mansard Insurance Plc: down 13.75% to N13.80
- Cadbury Nigeria Plc: down 13.72% to N62.55
- Chams Holding Company Plc: down 13.67% to N3.41
- Sunu Assurances Nigeria Plc: down 13.27% to N4.51
- Legend Internet Plc: down 13.06% to N5.26
Corporate actions overview
The week was marked by several key corporate disclosures, particularly an outpouring of financial statements from companies listed on the NGX.
- Transcorp, BUA Cement, Dangote Cement, Ecobank, Livestock Feeds, GTCO, Chemical & Allied, and VFD Group released their financial statements for Q3 ended September 30, 2025.
- Airtel Africa published its half-year results.
- Berger Paints, Unilever, Seplat, Aradel, and UAC also released their Q3 2025 financial statements.
- TotalEnergies, Wema Bank, Eterna, Sterling, Fidson, MTN, UBA, Beta Glass, BUA Foods, FirstHoldco, Champion, and Conoil all reported results for the same period.
Market outlook
Despite the weekly decline, the Nigerian All-Share Index remains on a strong bullish trajectory above the 150,000-mark, as investors continue to identify attractive counters.
Positive sentiment following the Q3 earnings releases, especially among large-cap companies, is expected to support further upward movement in the index.
