The Nigerian Exchange Group (NGX) experienced a modest decline in its All-Share Index (ASI) on Thursday, May 22, 2025, retracting by 0.40% to close at 109,183.93 points. This downturn, which saw the index dip below the 109,500 mark, came despite a notable surge in trading activity, with a remarkable 1.6 billion shares changing hands during the session.
Market Dynamics and Key Movers
The day's trading was heavily influenced by ROYALEX, which single-handedly accounted for an astounding 903.5 million shares of the total volume traded. This significant activity, however, wasn't enough to prevent the overall market capitalization from settling at N68.6 trillion, a decrease from the N68.8 trillion recorded the previous day.
Among the bright spots, UHOMREIT and REDSTAREX emerged as top gainers, soaring by 9.97% and 9.91% respectively. Conversely, MAYBAKER and CHELLARAM faced sharp declines, both shedding 9.96% of their share prices. Beyond ROYALEX, other highly traded stocks by volume included FIDELITYBK, JAPAULGOLD, UBA, and TANTALIZER.
Sectoral Performance and Market Outlook
While the overall market experienced a slight dip, the performance within key sectors and specific stock categories presented a mixed bag. In terms of trading value, FIDELITYBK led the pack with N2.4 billion in transactions, followed closely by MTNN and UBA.
Examining the performance of SWOOTs (Stocks Worth Over One Trillion Naira), NIGERIAN BREWERIES and INTERNATIONAL BREWERIES both recorded declines. Within the FUGAZ banking group (FBN Holdings, UBA, GTCO, Access Holdings, Zenith Bank), FIRSTHOLD managed a gain of 1.02%, while UBA, GTCO, ACCESSCORP, and ZENITHBANK all saw slight pullbacks.
Despite the day's contraction, the All-Share Index demonstrated resilience by holding firm above the 109,000 psychological barrier. This suggests that the underlying market sentiment remains relatively stable. Analysts will be keenly watching the performance of mid- and large-cap stocks in the coming days, as their sustained strength could be the catalyst needed to propel the market back into a bullish phase.