The Nigerian Exchange (NGX) began the final trading week of September 2025 on a positive trajectory with the All-Share Index (ASI) gaining 0.17% to close at 142,377.56 points, while market capitalisation appreciated to ₦90.12 trillion.
Monday’s session added ₦155.4 billion in investor wealth, driven by renewed interest in select equities and Exchange Traded Funds (ETFs).
Market Performance Overview
Market activity was relatively moderate compared to last week’s heavy block transactions, but still reflected improved investor sentiment.
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Total Deals: 28,114
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Total Volume: 383.95 million shares
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Total Value: ₦11.62 billion
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Equity Cap: ₦90.12 trillion
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Bond Cap: ₦51.15 trillion
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ETF Cap: ₦30.23 billion
The market breadth closed negative as 22 stocks advanced, 35 declined, and 77 remained unchanged, indicating that the day’s gain was supported mainly by a handful of strong performers rather than broad-based buying.
Top Gainers
Leading the gainers’ table were a mix of real estate, mortgage, energy, and services stocks:
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Thomas Wyatt Plc rose by 10.00% to close at ₦3.63, sustaining its bullish momentum in recent sessions.
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SFS REIT also advanced 10.00% to ₦346.55, reflecting investor appetite for real estate-backed securities amid volatility in the broader equity market.
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LivingTrust Mortgage Plc gained 9.90% to ₦5.66, supported by renewed demand for financial sector plays.
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Eterna Plc climbed 9.86% to ₦30.65, extending strength in the oil and gas segment.
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Caverton Offshore Support Plc appreciated 9.28% to ₦6.83.
Top Losers
The losers’ chart was dominated by insurance, construction, and publishing firms, underscoring sectoral weakness:
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Mansard Insurance Plc dropped by 10.00% to ₦14.40, the day’s worst performer.
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UPL Plc fell 9.85% to ₦5.40, while Learn Africa Plc lost 9.72% to ₦6.50, reflecting sustained sell pressure in small- to mid-cap counters.
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Julius Berger Plc, a key construction heavyweight, slumped 8.70% to ₦136.50 amid profit-taking.
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Cornerstone Insurance Plc depreciated 7.42% to ₦5.86.
Market Activity
Trading was relatively active across mid- and large-cap counters:
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First HoldCo Plc led activity with 47.49 million shares worth ₦1.47 billion, signalling continued institutional interest.
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Ellah Lakes Plc exchanged 24.46 million shares valued at ₦290.87 million, while Veritas Kapital Assurance Plc traded 21.87 million shares worth ₦44.66 million.
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Zenith Bank Plc recorded 18.75 million units worth ₦1.31 billion, maintaining its place as a core liquidity driver.
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Chams Holding Plc completed the top trades with 16.16 million shares worth ₦56.56 million.
Bonds and ETFs
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Bonds: The fixed-income market remained flat, with no price movement across listed sovereign and corporate bonds.
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ETFs: Activity was stronger in ETFs, led by Stanbic IBTC ETF30, which surged 9.78% to ₦494.00, reflecting renewed institutional flows. GreenWETF also gained 0.52% to ₦211.10, while other ETFs, including MerGrowth, SiamLETF40, and VetGrif30, closed flat.
Market Outlook
The positive start to the week suggests selective bargain-hunting in real estate, oil and gas, and financial-linked equities.
However, the dominance of losers over gainers points to weak underlying breadth, with most sectors still facing pressure.
Analysts expect the ASI to consolidate around the 142,000-point threshold, with possible sideways movement until stronger catalysts emerge.
Activity in banking and oil & gas stocks, alongside sustained ETF demand, will remain the primary drivers of near-term market direction.
