The Nigerian Alternate Restricted (NGX) sustained its constructive momentum on Thursday, October 23, 2025, marking the fourth consecutive buying and selling session of good points because the All-Share Index (ASI) superior by 0.49% to shut at 154,489.90 factors.
The market capitalization of listed equities appreciated by ₦478 billion, rising from ₦97.58 trillion to ₦98.06 trillion, pushed by robust performances in industrial and client items shares.
Market Abstract
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All-Share Index (ASI): 154,489.90 (+0.49%)
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Offers: 30,703
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Quantity: 926.92 million shares
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Worth: ₦26.95 billion
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Fairness Market Capitalization: ₦98.06 trillion
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Bond Market Capitalization: ₦51.39 trillion
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ETF Market Capitalization: ₦31.19 billion
Market exercise improved considerably in comparison with the earlier session, with complete traded quantity up 57.3%, transaction worth up 12.2%, and complete offers rising 7.8%.
High Gainers
| Firm | Earlier (₦) | Present (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| PZ Cussons Nigeria Plc | 39.00 | 42.90 | +3.90 | +10.00% |
| TIP | 13.00 | 14.30 | +1.30 | +10.00% |
| Aso Financial savings & Loans Plc | 0.55 | 0.60 | +0.05 | +9.09% |
| CAP Plc | 68.00 | 74.00 | +6.00 | +8.82% |
| Lafarge Africa Plc (WAPCO) | 138.50 | 150.45 | +11.95 | +8.63% |
The session’s constructive shut was primarily attributed to WAPCO (+8.63%), CAP (+8.82%), and PZ (+10.00%), which led good points within the industrial items sector.
Sturdy shopping for curiosity in constructing supplies and chemical manufacturing shares lifted the general market efficiency, whereas TIP rebounded sharply following earlier profit-taking.
High Losers
| Firm | Earlier (₦) | Present (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Lotus Halal ETF 15 | 90.00 | 81.10 | -8.90 | -9.89% |
| John Holt Plc | 7.20 | 6.50 | -0.70 | -9.72% |
| Multiverse Mining & Exploration Plc | 13.90 | 12.55 | -1.35 | -9.71% |
| Stanbic IBTC Holdings Plc | 118.00 | 107.20 | -10.80 | -9.15% |
| Nigerian Breweries Plc | 75.95 | 70.00 | -5.95 | -7.83% |
The decliners’ chart was dominated by profit-taking, notably in financials and client staples.
Stanbic IBTC (-9.15%) and Nigerian Breweries (-7.83%) recorded notable losses following earlier session good points, whereas Lotus Halal ETF 15 (-9.89%) reversed earlier advances amid volatility in ETF-linked devices.
High Traded Shares
| Firm | Quantity (shares) | Worth (₦) |
|---|---|---|
| Japaul Gold & Ventures Plc | 436,045,944 | 1,090,645,473.31 |
| Fidelity Bank Plc | 77,297,448 | 1,534,978,942.20 |
| Lafarge Africa Plc (WAPCO) | 46,371,434 | 6,982,912,019.75 |
| Entry Holdings Plc | 32,611,609 | 804,763,669.75 |
| NASCON Allied Industries Plc | 17,922,604 | 1,986,135,765.40 |
Buying and selling was largely concentrated in industrial items and banking equities.
WAPCO dominated the worth chart, accounting for over 25% of complete market worth, whereas Japaul Gold recorded the best quantity traded, supported by retail traders’ elevated exercise in low-priced equities.
Bond Market
| Instrument | Earlier (₦) | Present (₦) | 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 |
The bond phase closed flat throughout all listed authorities devices, reflecting yield stability within the fixed-income market.
Alternate-Traded Funds (ETFs)
| ETF | Earlier (₦) | Present (₦) | Change (₦) |
|---|---|---|---|
| VSPBONDETF | 207.00 | 210.00 | +3.00 |
| VETBANK | 16.00 | 16.40 | +0.40 |
| GREENWETF | 415.00 | 415.00 | 0.00 |
| MERGROWTH | 347.00 | 347.00 | 0.00 |
| SIAMLETF40 | 470.00 | 470.00 | 0.00 |
The ETF market ended blended, with VSPBONDETF (+1.45%) and VETBANK (+2.50%) advancing, whereas different devices closed unchanged.
Day-on-Day Comparability (October 22 vs. October 23, 2025)
| Indicator | Oct 22, 2025 | Oct 23, 2025 | Change |
|---|---|---|---|
| ASI (Factors) | 153,736.25 | 154,489.90 | +0.49% |
| Market Cap (₦) | 97.58 trillion | 98.06 trillion | +₦478 billion |
| Quantity (Shares) | 589.49 million | 926.92 million | +57.3% |
| Worth (₦) | 24.01 billion | 26.95 billion | +12.2% |
| Offers | 28,485 | 30,703 | +7.8% |
Market Interpretation
The market maintained its four-day successful streak on the again of broad-based good points in industrial and banking equities.
WAPCO, CAP, and PZ emerged as key market movers, with institutional accumulation noticed in constructing supplies and FMCG shares.
The sustained enchancment in quantity and worth signifies renewed liquidity inflows, suggesting continued curiosity from each home institutional and overseas portfolio traders.
In the meantime, the decline in Stanbic IBTC and Nigerian Breweries highlights focused profit-taking in choose large-cap counters.
Market Outlook
Analysts count on reasonable profit-taking within the subsequent session after 4 consecutive bullish closes. Nevertheless, total sentiment stays constructive, buoyed by:
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Optimism forward of Q3 earnings releases,
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Renewed confidence in industrial and banking shares,
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Secure FX circumstances on the traders’ and exporters’ window, and
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Improved participation from institutional traders.
If the present momentum holds, the NGX All-Share Index might check the 155,000-point resistance degree, positioning the marketplace for a probably robust month-end shut.
Abstract
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ASI: 154,489.90 (+0.49%)
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Market Cap: ₦98.06 trillion
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Quantity: 926.92 million shares
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Worth: ₦26.95 billion
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Offers: 30,703
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Development: Bullish for fourth consecutive session