The Nigerian Alternate Restricted (NGX) closed damaging for 2 straight buying and selling classes as traders continued to take revenue in key high-cap shares.
The market bearishness continued from Monday, 17 November into Tuesday, 18 November 2025 amid rising cautious sentiment forward of year-end positioning.
The All-Share Index (ASI) fell from 145,159.77 factors on Monday to 144,986.51 factors on Tuesday, representing a mixed 0.38% decline over the 2 classes.
Market capitalization additionally retreated from ₦92.329 trillion to ₦92.219 trillion, wiping out an estimated ₦110 billion in worth.
Market Exercise Overview (17–18 November 2025)
Throughout each classes, investor participation slowed as mirrored beneath:
| Indicator | Monday (17 Nov) | Tuesday (18 Nov) | 2-Day Statement |
|---|---|---|---|
| ASI Motion | -1.26% | -0.12% | Sustained decline |
| Offers | 28,492 | 21,827 | Decrease exercise |
| Quantity Traded | 388.18m items | 381.23m items | Reasonably energetic |
| Market Worth | ₦31.14bn | ₦16.72bn | Rotation to lower-value performs |
| Fairness Cap | ₦92.329tn | ₦92.219tn | ₦110bn decline |
| Bond & ETF Cap | Slight enchancment | Continued stability | Various publicity growing |
Investor focus remained largely on choose mid-cap, penny shares, and energy-linked performs, whereas heavyweights skilled value markdowns.
High Gainers Throughout the Two Classes
| Inventory | Greatest Day by day Acquire | Sector Remark |
|---|---|---|
| NCR | +9.96% & +9.95% | Strongest 2-day performer, constant momentum |
| Sovereign Insurance coverage | +9.97% | Sustained influx into insurance coverage names |
| Tantalizer | +9.81% & +9.79% | Retail demand stays agency |
| Caverton Offshore | +9.57% | Shopping for curiosity in aviation providers |
| UPL | +9.80% | Improved sentiment on agribusiness counters |
| Status Assurance | +9.70% | Defensive insurance coverage rotation extends |
Insurance coverage and client counters dominated shopping for curiosity over each days.
High Decliners Throughout the Two Classes
| Inventory | Worst Day by day Loss | Sector Driver |
|---|---|---|
| Dangote Cement | -10.00% (17 Nov) | Largest drag on ASI; revenue taking |
| Enamelware | -10.00% (17 Nov) | Sharp mid-cap correction |
| LivingTrust | -9.90% (18 Nov) | Banking stress continues |
| McNichols | -9.00% | Speculative retracement |
| Livestock Feeds | -7.75% | Shopper rotation excludes meals producers |
Losses in industrial heavyweights outweighed beneficial properties in small caps, driving total market weak spot.
Most Lively Shares (Mixed Highlight)
| Inventory | Commentary |
|---|---|
| Aradel Holdings | Led by worth each classes; deep institutional demand |
| Tantalizer | Highest liquidity by quantity throughout two days |
| Sterling Monetary | Retail and speculative flows sturdy |
| Univ. Insurance coverage / Veritas Kapital | Insurance coverage stays quantity magnet |
Traders continued positioning in low-priced equities with stronger liquidity.
ETF & Mounted Revenue Highlights
ETFs akin to STANBICETF30, SIAMLETF40, and VETINDETF superior, indicating rising urge for food for broad market publicity throughout heightened volatility.
FGS202766 posted a major upward revaluation (+₦24.99), lifting protection within the sovereign financial savings bonds phase.
Market Sentiment and Outlook
The prolonged decline alerts profit-taking stress on blue chips, particularly in industrial and premium index constituents. Nevertheless:
Insurance coverage counters proceed to draw capital rotation
Penny shares are main liquidity play
ETF and financial savings bonds demand signifies risk-management positioning
A modest rebound could happen if discount hunters return, notably within the banking and industrial segments.
Nonetheless, analysts anticipate total sentiment to stay blended, influenced by:
Yr-end portfolio restructuring
Volatility in large-cap names
Sector-specific flows into defensives and power performs
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