The Nigerian stock market closed the week ended 14th November 2025 in negative territory, losing 2,511.22 points to finish at 147,013.59, despite strong gains in stocks like NCR (Nigeria) and Aso Savings & Loans.
Tracked by the Nigerian All-Share Index, the market had opened at 149,524.81, but a wave of panic selling earlier in the week erased about N4.6 trillion in value.
The downturn lingered despite a strong rebound the next day, when the market gained N2.6 trillion, following assurances from the Minister of Finance, Mr. Wale Edun.
His intervention likely eased concerns around Capital Gains Tax (CGT) and helped soften the weekly decline, though the market still ended in the red.
Activity, however, remained strong.
- Investors traded 7.32 billion shares worth N156.42 billion across 134,383 deals, compared to 3.57 billion shares valued at N107.01 billion the previous week.
Reflecting the overall sentiment, market capitalization fell to N93.501 trillion, from N94.99 trillion a week earlier.
Market breadth showed some improvement:
- 48 equities appreciated, up from 20 the previous week.
- 45 equities declined, a notable drop from 75 previously.
- 53 equities closed unchanged.
Overall, the market ended the week under pressure but showed resilience beneath the volatility.
Market overview
The Nigerian All-Share Index opened the week in the red, losing 0.46%.
- However, the bearish momentum intensified on Tuesday following a panic selloff, dragging the index down by over 7,500 points to 141,327.3.
A rebound began on Wednesday, likely driven by the Finance Minister’s reassurance on Capital Gains Tax (CGT).
The index rose 2.88%, continued to gain through the remaining two trading days, and eventually closed on Friday at 147,115.6.
Key highlights
The NGX Premium Index fell 2.74%, weighed down by a 10% drop in Dangote Cement, 2.06% in FIRST HOLDCO, 1.83% in SEPLAT, and 0.42% in MTN.
NGX 30 Index shed 1.73%, while the NGX Main Board Index declined by 1.00%.
Sectoral performance
- The Industrial Goods Index was the worst hit, dropping 6.97% following a 10% decline in DANGOTE CEMENT and a 6.67% fall in BUA CEMENT. Mid-caps also weakened, with AUSTIN LAZ down 18.62%, TRIPPLE GEE falling 9.98%, and BETA GLASS sliding 6.02%.
- NGX Oil and Gas Index slipped 0.85% as SEPLAT fell 1.83%.
On the positive side, the NGX Insurance Index gained 2.42%, supported by over 9% increases in CORNERSTONE INSURANCE, GUINEA INSURANCE, and INTERNATIONAL ENERGY INSURANCE.
The NGX Banking Index also closed higher, up 1.26%, while the Consumer Goods Index posted a modest 0.46% gain.
Top gainers
Leading the pack was NCR (NIGERIA) PLC, which soared 32.30% week-to-date, marking a standout performance and closing at N25.60. ASO SAVINGS AND LOANS PLC followed with a 14.44% gain, ending the week at N1.03.
Other major gainers included:
- Champion Breweries Plc: up 11.54% to N14.50
- International Energy Insurance Plc: up 11.48% to N2.72
- Secure Electronic Technology Plc: up 10.67% to N0.83
- Cornerstone Insurance Plc: up 10.51% to N6.10
- Japaul Gold & Ventures Plc: up 9.57% to N2.29
- Guinea Insurance Plc: up 9.57% to N1.26
- FTN Cocoa Processors Plc: up 9.38% to N5.25
- Legend Internet Plc: up 9.13% to N5.74
Top Losers
On the flip side, UNION DICON SALT PLC led the laggards, shedding 18.71% week-to-date to close at N6.30. AUSTIN LAZ & COMPANY PLC followed with an 18.62% decline, finishing the week at N2.36.
Other notable decliners were:
- Multiverse Mining and Exploration Plc: down 14.47% to N10.05
- Dangote Cement Plc: down 10.00% to N594.00
- Academy Press Plc: down 10.00% to N6.75
- Transcorp Power Plc: down 10.00% to N307.80
- Tripple Gee and Company Plc: down 9.98% to N4.42
- Associated Bus Company Plc: down 9.91% to N3.82
- Red Star Express Plc: down 9.80% to N9.20
- Abbey Mortgage Bank Plc: down 9.72% to N6.50
Corporate actions overview
The week featured several notable corporate disclosures and sector-wide developments:
- PZ Cussons proposed N98 million in directors’ remuneration ahead of its AGM.
- Zenith Bank Staff Provident Fund purchased N2.3 billion worth of the bank’s shares.
- Presco opened a N236.67 billion rights issue to fund expansion and acquisitions.
- MOFi listed its N1 trillion Series 2 MREIF on the NGX.
- Fidelity Bank released its H1 2025 results, reporting N180.5 billion in pretax profit.
- Conoil declared a N3.50 final dividend for shareholders.
- FCMB announced plans to raise its capital ceiling to N370 billion ahead of a crucial EGM.
Market outlook
Although the market closed in the red for the week ended 14th November, the All-Share Index appears to be positioning for a recovery toward the 150,000 mark, from which it previously slipped.
A full return of bullish momentum in large-cap stocks, which came under pressure the previous week, could likely drive the index higher in the sessions ahead.
