Business Report | October 25, 2025
Nigeria’s equities market closed the week on a strong note as renewed investor appetite for industrial and oil and gas stocks lifted the benchmark index.
The Nigerian Exchange (NGX) All-Share Index rose by 4.48% to close at 155,645.05 points, while market capitalisation climbed to ₦98.79 trillion, up from ₦94.54 trillion the previous week.
Market
Performance: Investors Regain Confidence
According
to the NGX Weekly Market Report for the week ended 24 October 2025, the uptrend
was driven by positive performances in major stocks such as BUA Cement, Dangote
Cement, and Aradel Holdings Plc, which all recorded double-digit gains.
Most
market indices ended the week higher, except for the Banking and Insurance
indices which shed 1.35% and 1.10% respectively, reflecting mild profit-taking
in financial stocks.
Trading
Volume Jumps 52% Week-on-Week
Investor
participation surged across the board as 3.695 billion shares worth ₦129.89
billion were traded in 148,077 deals, a sharp increase from 2.422 billion
shares valued at ₦76.62 billion traded last week.
The Financial
Services Industry dominated the activity chart with 2.362 billion shares worth ₦54.38
billion, representing 64% of total turnover volume. It was followed by the Oil
and Gas Industry with 551.5 million shares valued at ₦19.2 billion, while the Consumer
Goods Industry ranked third with 180.9 million shares worth ₦13.28 billion.
Top
trades were led by Fidelity Bank Plc, Japaul Gold and Ventures Plc, and Access
Holdings Plc, which together accounted for nearly 49% of total equity turnover
volume and 21% of value.
Top
Gainers: Aso Savings Rebounds After Suspension Lifted
The
week’s top gainer was Aso Savings and Loans Plc, which jumped 32% to close at
₦0.66 after the NGX lifted the suspension on its shares following the company’s
submission of all outstanding financial statements.
Other
notable risers included Aradel Holdings Plc (+25.2%), Eunisell Interlinked Plc
(+19.7%), PZ Cussons Nigeria Plc (+14.2%), BUA Cement Plc (+12.5%), and Dangote
Cement Plc (+10.8%).
Overall,
44 equities appreciated, down from 52 recorded the previous week, while 49
equities declined and 53 remained unchanged.
Top
Losers: Banking Stocks Lead Declines
On
the losers’ chart, LivingTrust Mortgage Bank Plc shed 10.9%, followed by Juli
Plc (-9.9%), RT Briscoe Plc (-9.8%), John Holt Plc (-9.7%), and Conoil Plc
(-9.7%).
Banking heavyweight Stanbic IBTC Holdings Plc also dropped 9.15%, reflecting
investor caution in the sector.
ETPs
and Bonds: Marginal Improvements
Activity
in Exchange Traded Products (ETPs) rose slightly, with 206,880 units valued at ₦28.02
million traded across 651 deals, compared to 202,526 units worth ₦24.92 million
last week.
In
the fixed income market, bond turnover eased as 336,046 units valued at ₦282.93
million were exchanged in 24 deals, lower than the 448,601 units worth ₦381.85
million recorded the week before.
Corporate
News: Aso Savings and VFD Group Take the Spotlight
The
NGX confirmed that trading in Aso Savings and Loans Plc shares resumed on 22
October 2025 after the firm cleared its backlog of financial filings,
satisfying the Exchange’s regulatory requirements.
In
another corporate development, VFD Group Plc opened trading on its ₦50.67
billion rights issue, offering 5.07 billion ordinary shares at ₦10 per share in
a two-for-three ratio. The offer, which opened on 15 October 2025, will close
on 15 November 2025.
Market
Outlook: Analysts Predict Sustained Gains
Analysts
say the strong momentum in industrial and oil stocks suggests that investors
are positioning ahead of upcoming Q3 corporate earnings.
However, they warn that short-term profit-taking in the banking sector could
cause temporary pullbacks.
“Market
sentiment remains broadly positive, driven by earnings expectations and renewed
foreign interest in large-cap industrial stocks,” one Lagos-based analyst said.
Summary
- All-Share Index:
155,645.05 points (+4.48%)
- Market
Capitalisation: ₦98.79 trillion
- Top Gainers: Aso
Savings, Aradel Holdings, Dangote Cement
- Top Losers:
LivingTrust Mortgage Bank, Juli Plc, Conoil
- Rights Issue:
VFD Group Plc — ₦10 per share, closes 15 Nov 2025
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