The Nigerian All-Share Index (ASI) closed the trading day of November 7th in negative territory, shedding 501.7 points to settle at 149,524.8 points. This marks the fifth consecutive day of losses, bringing the total market value erased during the week to N2.8 trillion.
Friday’s dip represents a 0.33% decline from the previous day’s close of 150,026.6 points, extending the weekly loss to 2.11%.
Market activity also slowed, with 527 million shares traded, down from 619 million shares exchanged on Thursday.
Equity capitalization mirrored the bearish sentiment, slipping to N94.9 trillion across 24,637 deals compared to N95.3 trillion in the previous session.
According to investors who spoke to Nairametrics, the panic selloffs are linked to the federal government’s proposed 25% capital gains tax set to take effect in January 2026, which will apply to profits above a N150 million threshold.
Additionally, geopolitical tensions following U.S. President Donald Trump’s threat of military action against Nigeria are being cited as a potential driver of foreign investor exits.
- On the gainers’ chart, NCR and MCNICHOLS topped the daily list, appreciating 9.94% and 9.82%, respectively.
- On the flip side, BERGER and CILEASING led the decliners, losing 10.00% and 9.86%, respectively.
In terms of trading volume, WEMABANK and CONHALLPLC dominated the activity chart, exchanging the most shares for the day.
Market summary
- Current ASI: 149,524.8
- Previous ASI: 150,026.6
- Day Change: -0.33%
- Year-to-Date Performance: +45.27%
- Volume Traded: 527 million shares
- Market Cap: N94.9 trillion.
Top 5 gainers
- NCR: Up 9.94% to N19.35
- MCNICHOLS: Up 9.82% to N3.02
- EUNISELL: Up 9.24% to N70.90
- DEAPCAP: Up 8.81% to N1.73
- ELLAHLAKES: Up 8.29% to N11.75
Top 5 losers
- BERGER: Down 10.00% to N35.10
- CILEASING: Down 9.86% to N5.03
- MECURE: Down 9.77% to N27.70
- CHAMPION: Down 9.72% to N13.00
- TIP: Down 9.66% to N10.75
Trading volume
WEMABANK led with 90.8 million shares, followed by CONHALLPLC with 78.3 million shares.
MANSARD ranked third with 32.3 million shares, while ACCESSCORP and ZENITHBANK rounded out the top five with 23.3 million and 22.45 million shares, respectively.
Trading value
WEMABANK topped the value chart with trades worth N1.7 billion.
GUINNESS followed closely with N1.69 billion, while ZENITHBANK posted N1.34 billion.
MTNN recorded N1.11 billion, and DANGCEM completed the top five with N1.05 billion in value traded.
SWOOT and FUGAZ Performance
Stocks Worth Over One Trillion Naira (SWOOTs):
- LAFARGE shed 0.76%.
Among the FUGAZ group, performance was similarly uneven:
- ZENITHBANK gained 0.17%, while FIRSTHOLDCO was unchanged.
Conversely, UBA fell 2.44%, ACCESSCORP declined 2.22%, and GTCO slipped 0.58%
Market outlook
The All-Share Index remains in a retracement phase, which could deepen if selling pressure persists beyond the 149,000-point threshold.
However, with investors digesting robust Q3 corporate earnings, sentiment toward large-cap stocks may soon improve, potentially reigniting bullish momentum in the sessions ahead.
