October 16, (THEWILL) — The Nigerian Exchange (NGX) sustained its positive momentum on Thursday, October 16, 2025, as renewed buying interest in select large and mid-cap stocks lifted the market further into the green.
The All-Share Index (ASI) rose by 0.41%, moving from 147,742.23 points to 148,355.04 points, while the market capitalisation appreciated correspondingly from N93,776,404,757,698.00 to N94,165.36 trillion, representing a gain of roughly N388.96 billion.
Market Breadth and Activity
The day’s trading activity reflected a positive breadth, with 30 gainers against 25 losers, underscoring sustained investor optimism. Market activity was moderately upbeat as traders positioned ahead of expected Q3 corporate earnings releases, particularly in the banking, industrial, and consumer goods sectors.
Turnover volume improved slightly compared to the previous session, driven by retail and institutional repositioning into value stocks seen as resilient amid easing inflationary pressures.
Top Gainers
NSL TECH gained 7.06% (N0.85 → N0.91).
STERLINGNG appreciated by 6.49% (N7.70 → N8.20).
LIVESTOCK rose 5.33% (N7.50 → N7.90).
TIP advanced 5.18% (N13.31 → N14.00).
MAYBAKER added 4.99% (N17.05 → N17.90).
Top Losers
SUNUASSUR declined –9.71% (N5.77 → N5.21).
HMCALL fell –7.53% (N4.39 → N4.05).
DAARCOMM lost –6.36% (N1.10 → N1.03).
SOVRENINS dropped –6.05% (N3.47 → N3.26).
CUSTODIAN shed –4.55% (N44.00 → N42.00).
Unchanged Stocks
Stocks that closed flat include Berger Paints Plc, BUA Cement Plc, Cadbury Nigeria Plc, Etranzact International Plc, and Eterna Plc.
Investor Sentiment
Investor sentiment remained moderately bullish, reflecting confidence in the resilience of key sectors and expectations of improved corporate earnings in Q3 2025. The slight uptick in buying activity among banking and industrial stocks suggests that investors are taking advantage of current price levels amid easing inflation and improving macroeconomic outlook.
Sector Performance and Outlook
Sectoral performance showed mild strength across key segments, with notable gains in banking, industrial, and healthcare stocks cushioning declines in insurance and consumer goods counters.
Market analysts expect the current positive tone to persist in the short term, buoyed by bargain-hunting, dividend expectations, and a calmer inflation trajectory. However, intermittent profit-taking is likely as investors rebalance portfolios ahead of year-end positioning.
Week-to-Date Performance
So far this week, the market has maintained a broadly positive trajectory, with cumulative gains pushing the ASI above the 148,000-point mark for the first time in October. This reflects improving investor appetite and growing confidence in Nigeria’s capital market outlook as earnings season approaches.
If the bullish momentum continues into Friday, the market may close the week with its third consecutive weekly gain, signalling renewed confidence in local equities amid gradual macroeconomic stabilisation.
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Ogochukwu Onwaeze