The Nigerian Exchange Limited (NGX) saw significant movement on Thursday, October 23, 2025, with consumer goods manufacturer PZ Cussons Nigeria and investment firm. The Initiates Plc led the day’s gainers, while established conglomerate John Holt and banking powerhouse Stanbic IBTC were among notable decliners.
PZ Cussons Nigeria emerged as one of the day’s top performers, closing at NGN 42.90 per share after recording a 10% gain from its previous closing price of NGN 39.00.
The consumer goods company has been on an impressive upward trajectory, gaining 76.5% since the start of the year when it traded at NGN 24.30. This performance places PZ 64th on the NGX in year-to-date rankings.
The stock’s momentum appears strong, with a 28% gain over the past four weeks alone—the seventh-best four-week performance on the exchange—giving shareholders reason for optimism.
The Initiates Plc matched PZ Cussons’ 10% daily gain, closing at NGN 14.30, up from NGN 13.00. However, the investment company’s year-to-date performance is even more remarkable, surging an extraordinary 472% from its opening price of NGN 2.50. This stellar performance ranks The Initiates third on the NGX for 2025, with the stock also posting a solid 14% gain over the past month.
Aso Savings & Loans rounded out the day’s top gainers with a 9.1% increase, closing at NGN 0.60, up from NGN 0.55. The financial institution has gained 20% year-to-date, placing it 101st in the NGX rankings.
On the losing side, John Holt Plc suffered a 9.7% decline, closing at NGN 6.50, down from NGN 7.20. The diversified conglomerate’s troubles extend beyond Thursday’s trading session—the stock has fallen 16.6% from its year-opening price of NGN 7.79 and has lost 18% of its value since September 24, compounding shareholder concerns.
Multiverse Mining & Exploration also dropped 9.7%, closing at NGN 12.55, down from NGN 13.90. Despite this decline, the mining company maintains a strong year-to-date gain of 70.8% from its opening price of NGN 7.35, ranking 66th on the exchange. However, investors should note the stock’s recent weakness, having shed 10% over the past four weeks.
Stanbic IBTC Holdings, one of Nigeria’s premier financial institutions, recorded a 9.2% decline to close at NGN 107.20, down from NGN 118.00. Nevertheless, the banking giant retains an impressive 86.1% year-to-date gain from its opening price of NGN 57.60, ranking 59th on the NGX. The stock has also posted a 5% gain over the past month, suggesting underlying strength despite Thursday’s setback.
The mixed trading session reflects the diverse fortunes of companies across sectors on the Nigerian bourse, with consumer goods and investment firms outperforming while some established industrial and financial stocks face headwinds.
