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By Chukwuma Umeorah
The Nigerian Exchange Limited (NGX) sustained its positive momentum for the week ended October 17, 2025, as the All-Share Index advanced by 1.35 per cent to close at 148,977.64 points, compared to 146,988.04 points the previous week. This upward trend lifted the market capitalization by 1.36 per cent to N94.561 trillion, reflecting renewed investor confidence amid signs of macroeconomic improvement.
The week’s bullish performance, according to analysts at Cowry, was buoyed by improving macroeconomic indicators, particularly the decline in inflation to 18.02 per cent in September from 20.12 per cent in August, which strengthened investor optimism toward equities.
They noted that “With the ASI inching closer to the 150,000-resistance zone, market sentiment remains upbeat. We expect a potential breakout above this threshold, especially if Q3 corporate earnings outperform expectations. Nonetheless, short-term profit-taking may surface as traders lock in gains from recent rallies.”
They added that the bullish momentum is expected to persist as market potential and attractive positions of several tickers presents a rewarding upside. “Overall, market performance will likely hinge on macroeconomic developments and policy signals from monetary authorities.”
The market’s strong performance for the week under review pushed the year-to-date (YtD) return to 44.74 per cent, supported by increased buying interest across major sectors. A total of 2.422 billion shares valued at N76.618 billion were traded in 126,591 deals during the week, higher in volume but lower in value compared to the previous week’s 2.286 billion shares worth N90.280 billion across 138,177 deals.
The Financial Services Industry led market activity with 1.662 billion shares worth N32.565 billion in 56,253 deals, representing 68.65 percent of total equity turnover volume and 42.50 percent of value. The ICT Industry followed with 184.884 million shares valued at N8.662 billion in 11,500 deals, while the Services Industry accounted for 154.537 million shares worth N1.066 billion in 5,975 deals.
Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc emerged as the most traded stocks by volume, contributing 618.549 million shares valued at N9.220 billion in 9,277 deals. Together, they accounted for 25.54 per cent of total equity turnover volume and 12.03 per cent of value.
Market breadth remained positive, as 52 equities appreciated in price during the week, up from 51 in the previous week, while 41 stocks declined and 53 remained unchanged. Top gainers for the week included Sovereign Trust Insurance Plc, which rose by 11.21 per cent to close at N3.57 per share. Royal Exchange Plc, which advanced 11.11 per cent to N2.40; and Eunisell Interlinked Plc, which gained 10.00 per cent to N48.40 per share. Others were SFS Real Estate Investment Trust (+9.88 per cent), Omatek Ventures Plc (+9.49 per cent), Transcorp Power Plc (+8.92 per cent), Stanbic IBTC Holdings Plc (+8.26 per cent), Universal Insurance Plc (+8.11 per cent), Vitafoam Nigeria Plc (+7.41 per cent), and Prestige Assurance Plc (+6.51 per cent).
On the losers’ chart, Tripple Gee and Company Plc led with an 18.84 per cent decline to N4.91, followed by Academy Press Plc, which fell 17.92 per cent to N7.88. Other major decliners included Regency Assurance Plc (-13.94 per cent), Livingtrust Mortgage Bank Plc (-13.46 per cent), Industrial & Medical Gases Nigeria Plc (-9.87 per cent) and Sunu Assurances Nigeria Plc (-9.01 per cent).
Sectoral performance reflected the overall bullish sentiment, with most indices closing in the green. The NGX Industrial Goods Index led with a 2.79 per cent gain to close at 5,440.11 points. Other notable advances were recorded in the NGX Insurance (+2.56 per cent), NGX Lotus II (+2.13 per cent), and NGX Consumer Goods (+1.93 per cent). Conversely, the NGX Growth Index fell by 2.08 per cent, while the NGX MERI Growth, NGX AFR Div Yield, NGX MERI Value, NGX AFR Bank Value, NGX CG, and NGX Banking indices recorded marginal declines.
In corporate actions, Regency Assurance Plc and Academy Press Plc adjusted for bonus and dividend declarations during the week, while Smart Products Nigeria Plc was officially delisted from the Exchange on October 13, following its failure to meet migration requirements to the Growth Board while Juli Plc successfully migrated to the Growth Board on the same date.
