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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Positive Streak Extends into 5th Consecutive Trading Day

As anticipated, the All Share Index (ASI) significantly rose by 3.1% to settle at 31,145.15 points, extending the bullish performance into the 5th consecutive trading day.

This performance was largely driven by price appreciation in MTNN (+10.0%), DANGCEM (+9.7%) and GLAXOSMITH (+5.3%). As a result, YTD loss improved to -0.9% from -3.9% recorded in the previous session, while market capitalisation advanced by N408.3bn to N13.7tn.

However, activity level was mixed as volume traded declined by 12.2% to 294.4m units and value traded advanced 1.7% to N17.5bn. MTNN (93.7m units), ZENITH (29.5m units) and UBA (22.4m units) were the most traded stocks by volume while MTNN (N13.6bn), DANGCEM (N1.7bn) and ZENITH (N566.4m) led top traded stocks by value.

Industrial Goods Index Emerges Lone Gainer
Performance across sectors was largely bearish as 4 of 5 indices under our coverage trended southwards. The Consumer Goods index led decliners, down 3.6% on account of sell-offs in NESTLE (-7.7%) and NIGERIAN BREWERIES (-0.7%).

The Banking index trailed, shedding 2.7% due to price depreciation in GUARANTY (-2.6%) and ZENITH (-2.6%) while the Insurance and Oil & Gas indices dipped 0.5% and 0.3% respectively following losses in LAWUNION (-9.1%) and OANDO (-2.2%). On the flip side, the Industrial Goods index emerged the lone gainer, up 1.1% driven by bargain hunting in DANGCEM (+9.7%).

Investor Sentiment Weakens
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 0.4x from 0.8x recorded in the previous trading session as 12 stocks advanced against 27 decliners.

MTNN (+10.0%), VITAFOAM (+9.8%) and DANGCEM (+9.7%) were the top performing stocks while LAWUNION (-9.1%), ETI (-8.5%) and JAPAULOIL (-8.3%) led laggards.

Despite the weak investor sentiment, we expect the rally in MTNN and renewed interest in DANGCEM to continue to buoy market performance in the near term.

Hot this week

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NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

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Topics

How to Buy Property Cheap Using PRE-LAUNCH Strategy

By Dennis Isong The high cost of housing has become...

Stanbic IBTC Capital: Best Investment Bank in Nigeria-EMEA Awards 2022

Stanbic IBTC Capital, the investment banking subsidiary of Stanbic...

NEM Insurance Supports YABATECH Football Competition 2023

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Banks, Telecoms, Mobility Brands Dominate Q1 2025 Media Performance Charts

Following the Central Bank of Nigeria’s directive to harmonize...

NAICOM Chief, Segun Omosehin, Pays Courtesy Call on Ondo State Governor in Akure

The Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr....

NCC Chief, Umar Danbatta, Adebayo of ALTON to Lead Speakers at NDSF 2023

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NIA: Insurance Week Designed to Boost Industry Awareness in Nigeria

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Nigerian Agric Insurance Corp Sympathises with Flood Victims Nationwide

The Nigerian Agricultural Insurance Corporation (NAIC) sympathises with flood...
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