The Nigerian Exchange Limited (NGX) ended the last trading session of the week on a mixed note on Friday, September 26, 2025, as the benchmark All-Share Index (ASI) advanced despite a sharp decline in market activity.
Trading data showed that a total of 518,641,035 shares valued at ₦18.04 billion exchanged hands in 22,339 deals, representing a 34 percent decline in volume, an 8 percent drop in turnover, but a 10 percent improvement in deals compared to Thursday’s session. The market capitalization of the Exchange, however, held firm at an impressive ₦90 trillion, underscoring the sustained bullish sentiment in the broader market.
Despite the slowdown in activity, market performance remained positive as the NGX All-Share Index rose by 983.96 points (0.7%) to close at 142,133.00 points, extending its weekly gain to 0.2%, its 4-week gain to 1.12%, and boosting its year-to-date return to an outstanding 38.09%. Other key indicators also mirrored the upbeat close, with the NGX Top 30 Index climbing 0.73%, translating to a weekly gain of 0.24% and a robust 35.88% increase year-to-date.
Market Breadth and Movers
Market breadth closed positive, with 36 gainers outpacing 23 losers out of the 129 equities traded during the session. Thomas Wyatt Nigeria Plc led the gainers’ chart, appreciating by the maximum daily limit of 10% to settle at ₦3.30 per share. It was closely followed by Eunisell Interlinked Plc and The Initiates Plc (TIP), both rising by 9.98%, while FTN Cocoa Processors Plc gained 9.96%.
On the flip side, Fidelity Bank Plc emerged as the day’s biggest loser, shedding 10% to close at ₦18.45 per share. Other top decliners included Custodian & Allied Plc (-8.9%), Cutix Plc (-8.31%), and Daar Communications Plc (-7.02%).
Volume and Value Drivers
In terms of volume, Abbey Mortgage Bank Plc topped the activity chart with 50 million shares traded, reflecting strong investor appetite for the stock. It was trailed by Zenith Bank Plc and Stanbic IBTC Holdings Plc, which each recorded 39 million shares, while FCMB Group Plc posted 32.3 million shares.
Market analysts noted that the positive close of the All-Share Index, despite a significant drop in turnover, points to continued investor confidence in blue-chip stocks and a broader expectation of sustained earnings growth across key sectors.
Outlook
With the NGX All-Share Index maintaining a strong 38.09% year-to-date return, analysts believe the market is still on track to close the third quarter on a positive note, barring any sudden macroeconomic shocks. They, however, caution that intermittent profit-taking may persist in the coming sessions as investors rebalance their portfolios ahead of the final quarter of the year.
The NGX’s resilience on Friday highlights the market’s ability to sustain momentum even amid reduced trading volumes, reinforcing investor optimism in Nigeria’s equities market as it continues to outperform several global peers.
