The Nigerian Exchange recorded its strongest performance in months as investors pushed the market higher by 4.48 per cent, adding N4.32tn to its overall value in a single week. The market capitalisation closed at N98.793tn, while the All-Share Index settled at 155,645.05 points, reflecting renewed investor confidence and increased activity across major sectors.
Trading data from the Exchange showed that a total of 3.695bn shares worth N129.889bn were exchanged in 148,077 deals during the week under review, compared with 2.422bn shares valued at N76.618bn traded in 126,591 deals the previous week. The strong turnover marks one of the most active trading weeks in recent months, driven largely by renewed interest in financial and energy stocks.
The Financial Services Industry maintained its dominance on the activity chart, recording 2.362bn shares worth N54.380bn traded in 63,561 deals. This represented 63.91 per cent of total equity turnover volume and 41.87 per cent of total value.
The Oil and Gas Industry followed with 551.517m shares worth N19.208bn in 10,539 deals, while the Consumer Goods Industry placed third with 180.904m shares valued at N13.276bn in 19,428 deals.
Market analysts noted that trading in Fidelity Bank Plc, Japaul Gold and Ventures Plc, and Access Holdings Plc dominated the week’s activity. The three equities jointly accounted for 1.808bn shares worth N27.893bn in 10,817 deals, representing 48.94 per cent of total turnover volume and 21.47 per cent of total value.
A breakdown of daily transactions revealed sustained momentum throughout the week. On Monday, October 20, a total of 415.04m shares worth N26.96bn changed hands in 31,486 deals. Trading volumes rose to 551.91m shares valued at N20.54bn on Tuesday and 589.43m shares worth N23.97bn on Wednesday.
Thursday recorded 926.91m shares worth N26.94bn traded in 30,685 deals, while Friday, October 24, closed the week strongly with 1.21bn shares valued at N31.48bn across 29,960 deals.
Similarly, a total of 206,880 units valued at N28.016m were traded this week in 651 deals, compared with 336,046 units worth N282.928m exchanged in 24 deals the previous week. Also, 448,601 units valued at N381.846m were transacted last week in 46 deals, showing a mixed performance in the exchange-traded products segment.
Despite the broad market rally, not all indices ended in positive territory. The Banking, Insurance, AFR Bank Value, AFR Div Yield, NGX MERI Value, and NGX Sovereign Bond indices all declined 1.35 per cent, 1.10 per cent, 1.89 per cent, 1.12 per cent, 0.03 per cent, and 0.18 per cent, respectively. However, all other indices closed higher, reflecting widespread bullish sentiment in the equities market.
In terms of price movement, 44 equities appreciated during the week, lower than the 52 recorded in the previous week. Conversely, 49 equities depreciated, higher than 41 in the preceding week, while 53 equities remained unchanged, the same number as the prior week.
Meanwhile, in a regulatory update, the Exchange announced the lifting of the suspension on trading in the shares of Aso Savings & Loans Plc. The company, which had been under suspension since July 2017 due to delayed filing of its financial statements, has now submitted all outstanding accounts. NGX confirmed that it was satisfied with the company’s compliance, citing Rule 3.3 of the Default Filing Rules, which mandates lifting of suspension upon submission of relevant financials. Consequently, trading in Aso Savings shares resumed on Wednesday, October 22, 2025.
Additionally, the Exchange notified the market of the activation of a trading code for VFD Group Plc’s Rights Issue, offering 5,067,396,400 ordinary shares of 50 kobo each at N10.00 per share. The offer, in a ratio of two new ordinary shares for every three existing shares held as of August 8, 2025, opened on October 15 and will close on November 15, 2025. The Rights Issue, managed by Africa Prudential Registrars, aims to strengthen the company’s capital base and expand growth opportunities.
Market watchers described the week’s performance as a strong signal of returning investor optimism, following months of moderate activity. Analysts attributed the N4.32tn market gain to renewed foreign inflows, strong earnings from tier-one banks, and an improved macroeconomic outlook.
With the NGX maintaining upward momentum and key corporate actions like the Aso Savings reinstatement and VFD Rights Issue boosting market confidence, stakeholders expect the bullish trend to extend into the coming weeks.
