September 30, (THEWILL) — The Nigerian equities market opened on Tuesday, September 30, with the NGX ASI standing at 142,377.56 points and appreciated by 0.23% to 142,710.48 points. The market capitalisation opened at 90.1 trillion, appreciated by 0.52% and closed the day at 90.58 trillion.
The local bourse recorded 36 losers against 25 gainers.
Top Gainers
- UPDC appreciated by +9.98% (stock price opened at N6.01 to close at N6.61)
- ENAMELWARE gained +9.97% (moved up from N35.1 to N38.60)
- ETERNA grew by +9.95% (rising up to N33.70 from N30.65 by the close of day)
- ARADEL gained 9.82% (rising from N560 to N615.00)
- TIP recorded a percentage gain of +9.77% (opening at N13.3 and closed at N14.60)
Top Losers
- UNIONDICON dipped by -10.00% (opened at N9 and closed at N8.10)
- CHAMPION BREWERIES fell by -7.09% (downward movement from N14.8 to N13.75)
- ROYALEX declined by -5.96% (dropping from N2.18 to N2.05)
- WEMABANK fell by -5.56% (the market price opened at N18 and closed at N17.00)
- CUSTODIAN recorded a loss percentage of -5.12% (from N43 to N40.80)
Some stocks left unchanged such as DANGSUGAR, FCMB, MCINHOLS, TANTALIZER, SOVRENINS.
The overall market closed positive, but breadth remained weak as losers outnumbered gainers. The appreciation in ASI and market capitalisation was mainly driven by selective buying interest in energy and industrial stocks (Eterna, Aradel) alongside speculative momentum in mid-tier counters (UPDC, Enamelware, TIP). These moves reflected bargain hunting and positioning ahead of Q3 earnings reports.
Meanwhile, financials and consumer goods like Wemabank, Custodian, and Champion Breweries came under profit-taking pressure, which explains the negative breadth.
Outlook for the week
The market is expected to remain volatile with a slightly bullish bias. Strength in energy stocks may keep the ASI elevated, while continued profit-taking in banking and consumer names could dampen overall breadth. Traders will focus on corporate earnings guidance, naira/FX movements, and liquidity conditions as near-term drivers.
Ogochukwu Onwaeze
