The Nigerian Exchange (NGX) closed Thursday’s trading session on a weaker note, as overall market activity declined across key indicators.
At the end of the day’s trading, investors exchanged a total of 599.71 million shares in 23,669 deals, representing a 26% drop in volume, a 55% fall in turnover, and a 3% decline in transactions compared to the previous session on Wednesday, November 12.
The total market value of traded equities stood at ₦22.69 billion, while the market capitalisation settled at ₦94.4 trillion.
Despite the general slowdown in market activity, several stocks posted strong gains, led by Custodian & Allied Plc (CUSTODIAN), Linkage Assurance Plc (LINKASSURE), and Oando Plc (OANDO), which all recorded double-digit growth.
Custodian & Allied Plc emerged as the session’s top performer, rising by 10% to close at ₦38.50 per share, up from its previous price of ₦35.00. The insurance and investment conglomerate has witnessed a remarkable 125% gain year-to-date, climbing from ₦17.10 at the start of 2025. However, short-term investors have been urged to trade cautiously, as the stock has declined 8% over the past four weeks.
Linkage Assurance Plc also advanced by 10%, ending the session at ₦1.76 per share compared to ₦1.60 previously. The insurer’s stock has appreciated by 49.2% so far in 2025, having opened the year at ₦1.18. Still, recent trends show a 16% loss in the past month, signalling some volatility in the counter.
Oando Plc joined the list of top gainers, climbing 10% to close at ₦43.55 per share from ₦39.60. The energy giant has had a turbulent year, however, with its shares down 34% year-to-date, making it one of the weaker performers on the NGX overall.
On the losers’ chart, Austin Laz & Company Plc (AUSTINLAZ) led the declines with a 10% drop, closing at ₦2.35 per share, down from ₦2.61 in the previous session. Despite having gained 29.1% year-to-date, the stock has shed 19% of its value in the past four weeks.
Union Dicon Salt Plc (UNIONDICON) followed, losing 9.7% to end at ₦7.00 per share, from ₦7.75. The company has declined 2.78% year-to-date, and its investors have seen a 13% loss over the past month, reflecting persistent market pressure on the counter.
Sterling Bank Plc (STERLINGNG) also trended downward, falling 5.8% to ₦7.30 per share, compared to ₦7.75 previously. Although Sterling Bank remains 30.4% higher year-to-date, its recent four-week performance shows an 11% dip, suggesting waning investor confidence in the short term.
Analysts attributed the decline in trading volume and turnover to profit-taking activities and investor caution amid macroeconomic uncertainties. They, however, noted that the market’s fundamentals remain stable, supported by a steady flow of corporate earnings and improved sectoral liquidity.
While the NGX’s short-term performance may remain mixed, strong-performing stocks like Custodian & Allied and Oando could sustain investor interest in the coming sessions, particularly if positive sentiment returns to the insurance and energy sectors.
