Investors lock in profits amid choppy trading, market posts strong year-to-date performance
Investors on the Nigerian Exchange Limited (NGX) added over N7.25 trillion to their portfolios in October, as market capitalisation rose to N97.83 trillion from N90.58 trillion in September 2025.
However, the market experienced a weekly setback, with investors losing over N963 billion (0.98%) due to profit-taking activities. The bourse closed lower in four of the five trading sessions last week, bringing an end to a seven-week winning streak.
Market analysts attributed the decline to cautious sentiment, weak risk appetite, and macroeconomic pressures. Despite these short-term losses, the NGX All Share Index (ASI) recorded a strong 7.9% gain in October, closing at 154,126.45 points compared to 142,710.48 points in September, lifting the year-to-date (YtD) gain to 49.74%.
“The market’s weakness last week was driven by profit-taking, elevated interest rates in the fixed-income space, inflationary concerns, and slow corporate earnings momentum,” noted one market analyst.
Trading activity, however, improved during the week, with average trading volume up 102.7% week-on-week and trading value rising 12.2%. Sectoral performance showed a mixed picture:
- Insurance Index: -3.5%
- Consumer Goods Index: -2.7%
- Banking Index: -2.1%
- Industrial Goods Index: -1.0%
- Oil & Gas Index: +0.3%
Looking ahead, analysts at Cordros Research anticipate choppy trading as investors monitor company-specific developments and fixed-income yields.
“Next week is likely to see mixed activity, with selective accumulation in fundamentally strong stocks, especially in banking and energy sectors,” analysts at InvestData Consulting said.
“Investors are expected to seek value amid price corrections while reacting to macroeconomic data, fixed-income movements, and third-quarter corporate earnings.”
Despite short-term fluctuations, the market’s robust October performance underscores ongoing investor confidence and the resilience of key sectors in Nigeria’s equities market.
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