The NGX closed positive last week, buoyed by strong buying interest in BUA Foods (+6.7%), Guinness Nigeria (+28.6%), Dangote Cement (+1.0%), and Nigerian Breweries (+8.1%), which lifted the All-Share Index (ASI) by 0.9% week-on-week (W/W) to 141,854.48 points. Consequently, Month-to-Date (MtD) and Year-to-Date (YtD) returns improved to +1.1% and +37.8%, respectively.
Analysts noted that the MPC meeting scheduled for September 22–23, 2025 will be pivotal, particularly the committee’s decision on the Monetary Policy Rate (MPR), which could shape investor appetite for risk assets in the near term.
Trading Activity
Market activity, however, moderated as both volume and value of trades fell 38.1% W/W and 38.3% W/W, respectively. A total of 2.735 billion shares worth ₦85.197 billion were traded in 127,284 deals, compared to 3.188 billion shares valued at ₦99.685 billion exchanged in 132,711 deals the previous week.
By volume, the Financial Services Industry led activity with 1.909 billion shares valued at ₦37.834 billion in 56,026 deals, accounting for 69.79% and 44.41% of total equity turnover volume and value, respectively. The ICT Industry followed with 184.870 million shares worth ₦6.189 billion in 12,893 deals, while the Services Industry ranked third with 176.506 million shares worth ₦813.252 million in 6,011 deals.
Sectoral Performance
Performance across sectors was mixed. The Consumer Goods Index rose by 5.5%, the Oil & Gas Index advanced 2.8%, and the Industrial Goods Index edged up 0.1%. On the flip side, the Insurance Index shed 4.7%, while the Banking Index dipped 2.6%.
Outlook
Looking ahead, analysts at Cordros Research expect the MPC outcome to dictate investor sentiment in the coming days.
“In the coming week, we expect the outcome of the MPC meeting to shape market activities, determining the magnitude of investors’ appetite for risk assets,” the firm stated.