The Nigerian Exchange (NGX) began the week on a negative note as the All-Share Index (ASI) fell by 0.24% to close at 141,498.22 points, while market capitalisation declined by ₦219.94 billion to ₦89.52 trillion.
The downturn was driven by profit-taking in consumer goods and hospitality stocks, led by Nigerian Breweries and Ikeja Hotel.
Market Snapshot
-
ASI: 141,498.22 (–0.24%)
-
Deals: 28,621
-
Volume: 488.56 million
-
Value: ₦13.72 billion
-
Equity Cap: ₦89.52 trillion
-
Bond Cap: ₦51.15 trillion
-
ETF Cap: ₦29.09 billion
-
Market Cap Change: –₦219.94 billion (from ₦89.74 trillion on Sept 19 to ₦89.52 trillion on Sept 22)
Critical View: Despite moderate trade volumes, value turnover at ₦13.72bn reflected narrow participation, with activity concentrated in banking and brewery stocks. The market breadth turned negative, confirming broad-based selling pressure.
Top 5 Gainers
| Symbol |
Last Close (₦) |
Current (₦) |
Change (₦) |
% Change |
| ROYALEX |
2.04 |
2.24 |
+0.20 |
+9.80% |
| NSLTECH |
0.75 |
0.80 |
+0.05 |
+6.67% |
| CHAMS |
3.10 |
3.29 |
+0.19 |
+6.13% |
| PRESTIGE |
1.74 |
1.84 |
+0.10 |
+5.75% |
| DAARCOMM |
1.06 |
1.12 |
+0.06 |
+5.66% |
Insight: Gains were concentrated in micro and penny stocks, led by ROYALEX (+9.8%) and NSLTECH (+6.7%), suggesting retail-driven speculative trading. CHAMS, PRESTIGE, and DAARCOMM also posted modest upticks.
Top 5 Losers
| Symbol |
Last Close (₦) |
Current (₦) |
Change (₦) |
% Change |
| MCNICHOLS |
3.70 |
3.33 |
-0.37 |
-10.00% |
| IKEJAHOTEL |
22.95 |
20.70 |
-2.25 |
-9.80% |
| FTNCOCOA |
6.00 |
5.50 |
-0.50 |
-8.33% |
| NB |
75.95 |
70.15 |
-5.80 |
-7.64% |
| HONYFLOUR |
22.10 |
20.60 |
-1.50 |
-6.79% |
Insight: Heavyweights Nigerian Breweries (NB) and Honeywell Flour led declines in consumer goods, while Ikeja Hotel shed nearly 10% on weak sentiment in hospitality. MCNICHOLS topped the losers’ chart with a full 10% drop.
Top 5 Trades
| Symbol |
Volume |
Value (₦) |
| UNIVINSURE |
79,558,019 |
95,069,072.81 |
| ZENITHBANK |
58,602,490 |
3,861,270,214.70 |
| NB |
32,534,268 |
2,408,604,788.30 |
| UBA |
31,981,450 |
1,385,564,349.50 |
| NSLTECH |
22,195,878 |
17,837,145.70 |
Critical View:
-
ZENITHBANK remained the liquidity leader with ₦3.86bn traded.
-
NB also posted strong turnover (₦2.41bn), reflecting investor exit pressure.
-
UBA supported financial sector activity, while UNIVINSURE and NSLTECH confirmed speculative flows in penny stocks.
Bonds Market
| Symbol |
Last Close (₦) |
Current (₦) |
Change (₦) |
| DAN2029S2TB |
100.00 |
100.00 |
0.00 |
| DIF2029S1TA |
100.00 |
100.00 |
0.00 |
| FG162029S1 |
98.00 |
98.00 |
0.00 |
| FG172035S1 |
20.00 |
20.00 |
0.00 |
| FG182042S1 |
100.00 |
100.00 |
0.00 |
Insight: The bonds market was flat across all instruments, consistent with investor focus on equities and selective ETF hedging.
ETFs
| Symbol |
Last Close (₦) |
Current (₦) |
Change (₦) |
| VETINDETF |
49.00 |
49.00 |
0.00 |
| NEWGOLD |
54,000.00 |
54,000.00 |
0.00 |
| VETBANK |
14.95 |
14.95 |
0.00 |
| VETGRIF30 |
50.00 |
50.00 |
0.00 |
| MERVALUE |
200.00 |
200.00 |
0.00 |
Critical View: ETFs remained flat, mirroring the cautious investor stance and limited inflows into passive instruments.
Critical Summary
-
ASI fell by 0.24%, dragging market cap down by ₦219.94bn to ₦89.52tn.
-
Consumer goods stocks (NB, HONYFLOUR, FTNCOCOA) and Ikeja Hotel drove losses.
-
Turnover value stood at ₦13.72bn, with ZENITHBANK leading trades by value.
-
Penny stocks dominated the gainers’ chart, reflecting speculative retail participation.
-
Bonds and ETFs were flat, indicating limited cross-market shifts.
Outlook
The decline underscores profit-taking in large-cap consumer names that rallied in previous sessions. With speculative trades driving gains, the NGX may remain under pressure unless institutional inflows return to stabilise the market.
