October 27, (THEWILL) — The Nigerian Exchange (NGX) opened the week on a quiet note, closing slightly negative as investors booked profits from recent gains across select large- and mid-cap stocks. Sentiment remained cautious following a week of strong rallies, as traders weighed macroeconomic headwinds, tight liquidity, and expectations ahead of fresh Q3 earnings releases.
The All-Share Index (ASI) declined from 155,645.05 to 155,496.15, representing a 0.10 percent loss, while the market capitalisation eased from N98.82 trillion to N98.78 trillion, reflecting a drop of about N40 billion in market value.
Market breadth closed negative, with 27 gainers against 30 losers, underscoring a mild bearish bias. Trading volumes were lower compared to the previous session as investors remained largely on the sidelines, adopting a wait-and-see approach toward market direction and broader economic cues.
Investor participation was driven largely by activity in the insurance, oil and gas, and industrial goods sectors, while banking counters traded mixed amid persistent yield pressure in the fixed income market.
Aradel Holdings Plc (ARADEL) appreciated by 10.00 percent (N790.00 to N869.00).
NEM Insurance Plc (NEM) gained 9.67 percent (N30.00 to N32.90).
ASO Savings and Loans Plc (ASOSAVINGS) advanced 9.09 percent (N0.66 to N0.72).
Eterna Plc (ETERNA) rose 8.75 percent (N40.00 to N43.50).
Chams Holdings Plc (CHAMS) increased by 7.95 percent (N3.95 to N4.25).
Deap Capital Management & Trust Plc (DEAPCAP) declined by 9.71 percent (N1.75 to N1.58).
Champion Breweries Plc (CHAMPION) lost 9.64 percent (N16.60 to N15.00).
Red Star Express Plc (REDSTAREX) fell 8.64 percent (N11.00 to N10.05).
Wapic Insurance Plc (WAPIC) shed 6.45 percent (N3.10 to N2.90).
Universal Insurance Plc (UNIVINSURE) dropped 5.98 percent (N1.17 to N1.10).
Unchanged Stocks
Equities that maintained previous closing prices include MTN Nigeria Communications Plc, Dangote Cement Plc, Lafarge Africa Plc, Custodian Investment Plc, and Julius Berger Plc.
Across key sectors, the Oil and Gas Index posted mild gains driven by renewed interest in Aradel and Eterna, while the Insurance Index extended its bullish run following renewed investor appetite in NEM and ASO Savings. However, losses in consumer goods and industrial stocks moderated overall market performance.
The day’s activity reflects a cautious market adjusting to broader economic realities — including inflationary pressure, high cost of funds, and tight foreign exchange liquidity — factors that continue to weigh on portfolio decisions and trading momentum.
Investor sentiment remains mixed as the market grapples with profit-taking on previously high-performing counters. While the overall tone leans toward caution, analysts expect bargain hunting to resurface in undervalued stocks, especially ahead of Q3 corporate earnings and the expected release of fiscal policy updates by the government.
In the short term, stability in blue-chip stocks and renewed sectoral positioning could support a mild rebound, though broader market movement is likely to remain range-bound pending fresh catalysts.
Ogochukwu Onwaeze
