The Nigerian stock market closed on a mixed note on Friday, September 19, 2025, as the Nigerian Exchange (NGX) recorded improvements in market turnover and trading volume despite a dip in its benchmark index.
Trading data showed that a total of 431.18 million shares valued at N13.49 billion were exchanged in 24,290 deals, representing a 33 percent increase in volume, 60 percent jump in turnover, and 7 percent rise in deals when compared with the previous day’s trading.
The market capitalisation of listed equities stood at N89.8 trillion, underscoring continued investor interest despite cautious sentiment across several counters.
Market breadth weakens as losers outnumber gainers
Out of the 124 equities traded, 43 closed in the red against 11 gainers, reflecting weak market breadth.
Deap Capital Management & Trust led the gainers’ chart with a 9.94 percent rise to close at N1.88 per share, followed by Sovereign Trust Insurance (+7.67%), Nigerian Breweries (+6.37%), and Guinness Nigeria (+4.49%).
On the flip side, LivingTrust Mortgage Bank shed 10 percent to close at N4.77 per share, trailed by Veritas Kapital Assurance (-9.91%), Secure Electronic Technology (-8.54%), and Nigerian Exchange Group (-8.32%).
Banking stocks dominate activity
Activity in the banking sector continued to dominate trading, with United Bank for Africa (UBA) leading in volume at 82 million shares, followed by Access Holdings (29.4 million), Zenith Bank (27.9 million), and Chams (19.5 million).
Market watchers noted that banking stocks have remained the focal point for retail and institutional investors, largely due to their liquidity and consistent dividend history.
Indices performance
The benchmark NGX All-Share Index (ASI) fell by 417.75 points or 0.29 percent to close at 141,845.32, trimming intraday gains. Despite the decline, the ASI posted a weekly gain of 0.92 percent, a four-week gain of 1.08 percent, and an impressive year-to-date growth of 37.81 percent.
Other notable index movements included:
- NGX Top 30 Index: -0.27% (weekly +0.91%; YTD +35.55%)
- NGX Consumer Goods Index: +0.61% (weekly +5.48%; YTD +93.93%)
- NGX Main Board Index: +0.01% (weekly +2.03%; YTD +39.7%)
- NGX Industrial Index: -0.01% (weekly +0.05%; YTD +37.98%)
- NGX Oil & Gas Index: -0.13% (weekly +2.79%; YTD -8.31%)
- NGX Pension Index: -0.73% (weekly -0.15%; YTD +47.91%)
Analysts say the resilience of the consumer goods sector, which has posted nearly 94 percent YTD growth, remains one of the bright spots for the market in 2025.
Outlook
Market analysts expect trading in the new week to remain cautious as investors rebalance portfolios in response to macroeconomic signals, sectoral performance, and corporate disclosures.
“The market is showing resilience despite sell pressure on some counters. We anticipate a mix of bargain hunting in consumer goods and banking stocks, alongside profit-taking in overbought equities,” one Lagos-based stockbroker told our correspondent.
