In today’s session, the market experienced a marginal increase, marking the third consecutive day of recovery since the biggest selloff, with the NGX ASI and market capitalisation adding 0.02%.
Market activity also strengthened significantly, as the transaction volume surged by 716.84%, while value of trades rose by 86.15%. CORNERST (-1.61%) dominated the trading activity, with 4.23bn units valued at N21.35bn.
Market breadth closed positive at 1.13x, indicating more gainers than losers. PRESTIGE (+9.84%) led the thirty-eight (38) gainers, while UNIONDICON (+10.00%) topped the thirty-one (31) decliners, with the remaining stocks closing flat.
NGX Summary
The Lagos bourse extended its bearish run for the third consecutive week, as the NGX All Share Index (ASI) fell by 1.68% w/w to close at 147,013.59 points. The market recorded the largest single-day loss in almost fifteen years on 11th November 2025, when the ASI dropped by 5.01% amid investor concerns over the implementation of Capital Gains Tax (CGT).
However, following clarifications from Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, that the revised CGT would not be charged retrospectively and with implementation set for January 2026, the market posted a mid-week rebound that persisted through the end of the week.
Although, the year-to-date (YTD) return moderated to 42.83% from the 45.27% in the prior week, while the market capitalisation sheds N1.50trn w/w, to settle at N93.50trn.
The bearish sentiment was driven by mid-week losses recorded in bellwether stocks, including, DANGCEM (-10.00% w/w), BUACEMENT (-6.67% w/w), and SEPLAT (-1.08% w/w), which outweighed the recovery seen in select tier-one banking names including, GTCO (+1.18% w/w), ZENITHBANK (+6.67% w/w), and ACCESSCORP (+4.55% w/w).
Sectoral performance was mixed, while the Industrial Goods (-6.97% w/w) and Oil & Gas (-0.85% w/w) indices closed negative, the Insurance Index (+2.42% w/w), Banking (+1.26% w/w), and the Consumer Goods (+0.46% w/w) indices closed in the green.
NASD Summary
The NASD reversed gains from the previous week, as the NASD OTC Securities Index (NSI) and market capitalisation declined by 1.31% w/w, closing at 3,613.23 points and N2.16trn, respectively.
The market also closed lower in today’s session, down by 0.86%. However, market activity was strong, as the transaction volume and value surged by 1,748.14% and 4,185.10%, respectively.
SDCSCSPLC (-3.96%) led the market laggards, while no gainers were recorded in today’s session.
Coronation
