The Nigerian Exchange (NGX) opened October on a positive trajectory, with the All-Share Index (ASI) closing at 142,979.46 points, up by 269 points (0.19%) from the previous session. This mild but symbolic uptick underscores investors’ confidence as the market transitions into the final quarter of 2025.
The session was defined by an exceptional surge in trading activity. Market volume skyrocketed to 6.23 billion shares, a nearly fivefold jump from the 1.24 billion shares exchanged a day earlier. This spike was largely driven by Cornerstone Insurance, which alone accounted for 5.4 billion shares, equivalent to almost 87% of total trades. The stock also dominated the value chart with ₦25.06 billion in transactions.
Equity capitalization climbed to ₦90.7 trillion, compared to ₦90.5 trillion in the previous session, reflecting the bullish momentum. Market breadth tilted slightly positive with more gainers than losers. PZ Cussons topped the advancers’ chart, soaring 10% to ₦37.95, followed closely by Eterna Plc with a 9.94% jump. Other strong performers included Champion Breweries (+9.82%), Tantalizer (+5.96%), and AIICO Insurance (+5.43%).
On the flip side, RT Briscoe shed 9.89%, while Thomas Wyatt declined 9.82%, leading the laggards. Sovereign Trust Insurance, International Energy Insurance, and Berger Paints also ended in the red.
The FUGAZ stocks—GTCO, AccessCorp, Zenith Bank, First Bank Holdings (FBNH), and UBA—showed mixed results. GTCO (+2.13%) and AccessCorp (+0.58%) posted gains, while Zenith Bank closed flat, and FBNH (-1.59%) along with UBA (-0.46%) slipped. Among the SWOOTs (stocks worth over one trillion naira), Nigerian Breweries (+1.71%) and MTN Nigeria (+0.47%) advanced, while Lafarge (-0.08%) edged lower.
Looking ahead, analysts say the ASI could break past the 143,000-point threshold if bullish momentum is sustained. With Q3 earnings season around the corner, investor positioning in heavyweight counters may push the index closer to 145,000 points. The strong liquidity, coupled with strategic interest in financial and insurance stocks, sets the tone for an active October.
The opening-day rally signals cautious optimism. While pockets of volatility remain, Nigeria’s equities market is showing resilience, supported by institutional flows and renewed retail investor appetite.
