Nigerian Exchange Limited
NGX Market Cap Gains ₦310 Billion as ASI Rises to 142,036.23 Points
The Nigerian Exchange (NGX) closed positive on Wednesday as renewed demand in banking, industrial, and insurance stocks lifted the market.
The All-Share Index (ASI) advanced by 0.35% to 142,036.23 points, while market capitalisation rose by ₦309.67 billion to close at ₦89.87 trillion.
Market Snapshot
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ASI: 142,036.23 (+0.35%)
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Deals: 23,281
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Volume: 1.00 billion
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Value: ₦24.66 billion
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Equity Cap: ₦89.87 trillion
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Bond Cap: ₦51.18 trillion
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ETF Cap: ₦29.51 billion
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Market Cap Change: +₦309.67 billion (from ₦89.56 trillion on Sept 16 to ₦89.87 trillion on Sept 17)
Critical View: The strong uptick in market cap alongside higher turnover volume (1.00bn shares vs 414.98m previous day) indicates renewed institutional flows, particularly in financial stocks.
Top 5 Gainers
| Symbol | Last Close (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| CHELLARAM | 13.30 | 14.60 | +1.30 | +9.77% |
| AUSTINLAZ | 2.69 | 2.95 | +0.26 | +9.67% |
| TIP | 12.00 | 12.97 | +0.97 | +8.08% |
| SOVRENINS | 2.85 | 3.06 | +0.21 | +7.37% |
| ARADEL | 545.00 | 583.00 | +38.00 | +6.97% |
Insight:
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CHELLARAM and AUSTINLAZ maintained momentum among industrial stocks.
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SOVRENINS (+7.37%) highlighted insurance sector resilience.
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ARADEL added ₦38.00 to close at ₦583.00, confirming sustained institutional demand in the oil and gas segment despite sector-wide weakness earlier in the quarter.
Top 5 Losers
| Symbol | Last Close (₦) | Current (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| GUINEAINS | 1.65 | 1.49 | -0.16 | -9.70% |
| CORNERST | 7.14 | 6.52 | -0.62 | -8.68% |
| LEGENDINT | 5.50 | 5.10 | -0.40 | -7.27% |
| DEAPCAP | 1.70 | 1.58 | -0.12 | -7.06% |
| THOMASWY | 2.62 | 2.45 | -0.17 | -6.49% |
Insight: Insurance stocks were split, with SOVRENINS gaining while GUINEAINS and CORNERST fell sharply, showing stock-specific divergence in the sector. The losers’ chart was dominated by penny stocks, reflecting retail-led sell-offs rather than institutional exits.
Top 5 Trades
| Symbol | Volume | Value (₦) |
|---|---|---|
| ABBEYBDS | 401,065,110 | 2,727,301,915.65 |
| FIDELITYBK | 254,810,408 | 5,274,233,927.65 |
| UBA | 23,221,092 | 1,094,600,217.95 |
| FIRSTHOLDCO | 22,529,116 | 699,629,899.55 |
| ACCESSCORP | 17,476,486 | 473,991,547.00 |
Critical View:
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ABBEYBDS led by volume with 401m shares, reflecting heavy speculative retail interest.
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FIDELITYBK drove value with ₦5.27bn in trades, highlighting sustained liquidity in Tier-2 banks.
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Banking dominance continued, with UBA, FIRSTHOLDCO, and ACCESSCORP supporting turnover.
Bonds Market
| Symbol | Last Close (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| FGS202892 | 84.99 | 95.00 | +10.00 |
| FGS202886 | 91.50 | 95.00 | +3.49 |
| FG202034S2 | 108.25 | 111.60 | +3.34 |
| FG202033S6 | 112.50 | 114.35 | +1.85 |
| FGS202656 | 100.00 | 101.00 | +1.00 |
Insight: Significant appreciation in savings bonds (FGS202892, FGS202886) indicates growing appetite for fixed income securities, particularly among retail investors seeking stable returns amid equity volatility.
ETFs
| Symbol | Last Close (₦) | Current (₦) | Change (₦) |
|---|---|---|---|
| VSPBONDETF | 203.10 | 206.00 | +2.90 |
| VETBANK | 15.25 | 15.25 | 0.00 |
| VETINDETF | 49.00 | 49.00 | 0.00 |
| GREENWETF | 230.45 | 230.45 | 0.00 |
| SIAMLETF40 | 586.00 | 586.00 | 0.00 |
Insight: Only VSPBONDETF advanced, rising 1.43%, while other ETFs were flat. This reflects investor hedging into bond-linked ETFs rather than broad equity ETFs.
Critical Summary
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Market Cap gained ₦309.67bn as ASI rose 0.35% to 142,036.23 points.
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Liquidity improved, with turnover value climbing to ₦24.66bn on higher volumes (1.0bn shares vs 415m previous day).
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Sector performance was mixed — industrials (CHELLARAM, TIP), insurance (SOVRENINS), and oil & gas (ARADEL) supported the rally, while penny stocks in insurance and consumer goods dragged.
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Bonds and ETFs signaled defensive positioning, with retail and institutional investors hedging via savings bonds and bond ETFs.
Outlook
The positive momentum and rising market cap suggest a short-term bullish trend, but the heavy reliance on speculative trades (ABBEYBDS, penny stocks) raises caution about sustainability. Strong flows into bonds and bond ETFs further imply that part of the market remains risk-averse, even as equities edge higher.