The Nigerian stock market wrapped up the first week of November 2025 on a bearish note, as renewed selling pressure weighed heavily on key blue-chip stocks. The Nigerian Exchange (NGX) All-Share Index (ASI) declined by 4,601.65 points to close at 149,524.81 points, representing a 2.99% weekly loss compared to 154,126.46 points recorded the previous week.
Despite a few bright spots among select gainers, the overall sentiment remained negative, signaling cautious investor activity amid profit-taking and macroeconomic headwinds.
Market Overview: Bears Dominate Trading
The week was largely bearish, with the NGX recording losses in all five trading sessions. The ASI dipped by 0.25% on Monday, deepened further on Tuesday, and suffered its sharpest fall on Wednesday with a 1.19% drop (a decline of 1,816.2 points).
While Thursday and Friday witnessed milder declines, the index slipped below the 150,000-point mark—a key psychological threshold—reflecting persistent selloffs across major sectors.
Market activity also weakened as trading volume and value fell sharply. Investors exchanged 3.57 billion shares worth ₦107.01 billion in 146,429 deals, compared to 7.47 billion shares valued at ₦145.42 billion across 175,000 deals the week before.
Total market capitalization dropped to ₦94.99 trillion, down from ₦97.8 trillion in the previous week, underscoring the overall bearish momentum.
Market Breadth and Key Indices
Market breadth remained weak, as only 20 equities gained compared to 29 in the prior week. Meanwhile, 75 stocks declined, and 51 remained unchanged.
-
NGX Premium Index: down 3.76%, driven by sharp declines in ACCESSCORP (-10.02%), MTN Nigeria (-8.29%), Lafarge Africa (-6.43%), Zenith Bank (-4.76%), and UBA (-0.12%).
-
NGX 30 Index: fell 3.00%.
-
NGX Main Board Index: dropped 2.56%.
Every major sectoral index closed in the red.
Sectoral Performance: Broad-Based Declines
-
Insurance Sector: Worst hit, as the NGX Insurance Index fell 7.56%, dragged by Sovereign Trust Insurance Plc (-28.21%) and International Energy Insurance (-17.01%).
-
Oil and Gas: Down 4.80%, reflecting losses in Oando Plc (-16.75%) and Eternal Plc (-1.39%).
-
Banking Sector: Lost 3.85%, pressured by declines in ACCESSCORP (-10%), Zenith Bank (-4.76%), and modest dips in GTCO, Wema Bank, UBA, and Fidelity Bank.
-
Consumer Goods: Dropped 2.54%, as investors rotated out of key staples.
-
Industrial Goods: Declined 1.09%, weighed by weakness in cement and building material stocks.
Top Gainers: NCR and Eunisell Lead the Charge
Despite the bearish tone, a few stocks bucked the trend to deliver impressive weekly returns.
-
NCR (Nigeria) Plc: +20.94%, closing at ₦19.35.
-
Eunisell Interlinked Plc: +20.17%, ending the week at ₦70.90.
-
Union Dicon Salt Plc: +9.93%, closing at ₦7.75.
-
Honeywell Flour Mill Plc: +9.50%, to ₦21.90.
-
UPDC Plc: +6.81%, to ₦6.59.
-
Livestock Feeds Plc: +5.71%, to ₦7.40.
-
eTranzact International Plc: +4.33%, to ₦13.25.
-
LivingTrust Mortgage Bank Plc: +3.50%, to ₦4.14.
-
Abbey Mortgage Bank Plc: +2.86%, to ₦7.20.
-
Okomu Oil Palm Plc: +2.78%, closing at ₦1,110.00.
Top Losers: Insurance and Aviation Stocks Dominate Declines
The week’s top decliners were led by Sovereign Trust Insurance Plc (-28.21%), which closed at ₦2.80, followed by C&I Leasing Plc (-20.16%), ending at ₦5.03.
Other notable laggards include:
-
Skyway Aviation Handling Company Plc: -18.99%, ₦80.60.
-
Berger Paints Plc: -17.41%, ₦35.10.
-
International Energy Insurance Plc: -17.01%, ₦2.44.
-
Oando Plc: -16.75%, ₦40.00.
-
Tantalizers Plc: -16.67%, ₦2.00.
-
The Initiates Plc: -16.02%, ₦10.75.
-
Champion Breweries Plc: -13.33%, ₦13.00.
-
ASO Savings and Loans Plc: -12.62%, ₦0.90.
Corporate Highlights
-
Aso Savings and Loans Plc and Veritas Kapital Assurance Plc released their Q3 2025 results.
-
Ellah Lakes Plc received SEC approval for its ₦235 billion public offer.
-
ABC Transport Plc published its quarterly financials for September 2025.
-
Airtel Africa Plc announced an interim dividend for shareholders.
Outlook: Short-Term Weakness, Long-Term Opportunity
The NGX remains in a correction phase as profit-taking persists in large-cap stocks. However, market watchers believe sentiment could turn positive as investors respond to strong Q3 earnings results and anticipate corporate actions in Q4.
If inflationary pressures ease and liquidity improves, selective bargain-hunting may support a rebound in the coming weeks.
For now, cautious optimism remains the dominant tone, with investors advised to focus on fundamentally strong stocks offering consistent dividend yields and stable growth prospects.
