The Nigerian Trade Restricted (NGX) sustained its upward momentum on Tuesday, October 21 2025, with the All-Share Index (ASI) advancing by 1.01% to shut at 151,456.91 factors, in comparison with 149,940.81 factors recorded on Monday.
Market capitalization rose by ₦962.3 billion, from ₦95.171 trillion to ₦96.134 trillion, marking the second consecutive bullish session pushed by good points in BUA Meals Plc, industrial counters, and renewed curiosity in choose progress shares.
Comparative Market Efficiency
| Metric | Oct 20 2025 | Oct 21 2025 | Change | Interpretation |
|---|---|---|---|---|
| ASI (pts) | 149,940.81 | 151,456.91 | +1,516.10 (+1.01%) | Continued upward pattern |
| Offers | 31,522 | 27,518 | -4,004 (-12.7%) | Fewer transactions regardless of rising index |
| Quantity (shares) | 415.35 m | 551.92 m | +136.57 m (+32.9%) | Improved market breadth and liquidity |
| Worth (₦) | 27.16 bn | 20.54 bn | -6.62 bn (-24.4%) | Extra trades in low-priced equities |
| Fairness Cap (₦) | 95.171 trn | 96.134 trn | +0.963 trn | Wealth growth on blue-chip good points |
| Bond Cap (₦) | 51.442 trn | 51.425 trn | -0.017 trn | Secure fixed-income phase |
| ETF Cap (₦) | 31.526 bn | 31.220 bn | -0.306 bn | Minor correction after prior uptick |
The market recorded increased quantity however decrease worth, indicating that buying and selling exercise shifted towards mid- and low-cap equities at the same time as large-cap shares resembling BUA Meals Plc and SCOA Plc powered the general index increased.
Prime Gainers
| Firm | Prev (₦) | Present (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| SCOA Plc | 6.59 | 7.10 | +0.51 | +7.74 % |
| Omatek Ventures Plc | 1.47 | 1.58 | +0.11 | +7.48 % |
| Consolidated Hallmark Holdings Plc | 4.48 | 4.78 | +0.30 | +6.70 % |
| BUA Meals Plc | 650.00 | 692.50 | +42.50 | +6.54 % |
| Lotus Halal ETF 15 | 77.00 | 82.00 | +5.00 | +6.49 % |
The 1.01% index acquire was largely attributed to BUA Meals Plc (+6.54%), whose rise adopted sustained institutional demand within the consumer-goods phase.
The rebound of Lotus Halal ETF (+6.49%), after a -9.42% fall on Monday, signaled renewed urge for food for Islamic-compliant funding devices.
Prime Losers
| Firm | Prev (₦) | Present (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| LivingTrust Mortgage Bank Plc | 4.44 | 4.00 | -0.44 | -9.91 % |
| FGSUK2031S4 | 82.15 | 76.20 | -5.94 | -7.23 % |
| Conoil Plc | 202.50 | 190.70 | -11.80 | -5.83 % |
| Afriland Properties Plc | 14.95 | 14.10 | -0.85 | -5.69 % |
| Sovereign Belief Insurance coverage Plc | 3.80 | 3.65 | -0.15 | -3.95 % |
Revenue-taking dominated banking and insurance coverage counters, whereas Conoil Plc prolonged its dropping streak amid weak sentiment within the downstream oil phase. LivingTrust Mortgage Bank Plc (-9.91%) led decliners, reflecting gentle correction after earlier rallies.
Prime Traded Shares
| Firm | Quantity (shares) | Worth (₦) |
|---|---|---|
| Fidelity Bank Plc | 59,116,710 | 1,179,063,838.10 |
| VFD Group Plc | 39,309,370 | 424,662,874.55 |
| Japaul Gold & Ventures Plc | 37,742,474 | 94,941,210.43 |
| Entry Holdings Plc | 37,364,218 | 950,063,143.95 |
| GTCO Plc | 31,363,733 | 2,918,276,424.15 |
The monetary sector continued to dominate turnover, with Fidelity Bank Plc sustaining management for a second straight session. Nevertheless, GTCO Plc posted the very best worth, pushed by institutional accumulation.
Mounted-Earnings Market
| Instrument | Prev (₦) | Present (₦) | Change (₦) |
|---|---|---|---|
| FGS202760 | 95.00 | 99.90 | +4.90 |
| FGS202766 | 124.99 | 124.99 | 0.00 |
| MCI2026S1 | 100.00 | 100.00 | 0.00 |
| ABC2027S0 | 100.00 | 100.00 | 0.00 |
| ADV2031S1B | 100.00 | 100.00 | 0.00 |
A gentle rebound in FGS202760 (+5.16%) mirrored shifting demand towards medium-tenor financial savings bonds, whereas the broader fixed-income phase remained secure.
Trade-Traded Funds (ETFs)
| ETF | Prev (₦) | Present (₦) | Change (₦) |
|---|---|---|---|
| STANBICETF30 | 520.00 | 539.99 | +19.99 |
| VETBANK | 15.23 | 15.23 | 0.00 |
| VETINDETF | 54.00 | 54.00 | 0.00 |
| VETGOODS | 36.50 | 36.50 | 0.00 |
| VSPBONDETF | 206.07 | 206.07 | 0.00 |
ETF exercise was secure, with STANBICETF30 (+3.8%) outperforming the phase, reflecting bullish sentiment within the underlying blue-chip portfolio.
Day-to-Day Comparability (Oct 20 vs Oct 21)
Market Breadth: Improved — variety of gainers elevated, led by industrial and client items shares.
Liquidity: Up — quantity rose 33% at the same time as worth fell 24%, implying heavier participation from retail buyers.
Sector Efficiency: Industrial items (BUA Meals, SCOA) and ICT (Omatek) outperformed, whereas power (Conoil) and insurance coverage (Sovereign Belief) weakened.
ETF Development: Restoration in Lotus Halal ETF and STANBICETF30 mirrored renewed confidence in diversified devices.
Momentum: The 2-day cumulative acquire of 1.66% pushed complete market capitalization above ₦96 trillion — its highest degree since early September.
Market Outlook
The NGX’s sustained rally demonstrates rising institutional demand for industrial and client items shares, coupled with defensive positioning in blue-chip names forward of Q3 earnings releases.
Analysts count on short-term profit-taking in small-cap equities, however broader sentiment stays bullish, supported by:
Secure naira on the buyers’ and exporters’ window,
Moderating inflation expectations, and
Anticipated dividend steering from key listed corporations.
If shopping for momentum persists in BUA Meals and BUA Cement, the NGX ASI may take a look at the 152,000-point threshold within the subsequent session.
Abstract Snapshot
| Indicator | Oct 20 | Oct 21 | Route |
|---|---|---|---|
| ASI | 149,940.81 | 151,456.91 | ⬆ Up (+1.01%) |
| Market Cap | ₦95.171 trn | ₦96.134 trn | ⬆ Up (+₦963 bn) |
| Quantity | 415.35 m | 551.92 m | ⬆ +33% |
| Worth | ₦27.16 bn | ₦20.54 bn | ⬇ -24% |
| Offers | 31,522 | 27,518 | ⬇ -13% |
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