Nigerian Stock Market Extends Losing Streak as ASI Drops by 2.24%
Gainers and losers breakdown
The Nigerian stock market closed the trading week ended November 21, 2025, in a bearish zone, marking its fourth consecutive weekly decline as selling pressure outweighed buying pressure in the market. The All-share index (ASI) shed 3,290.97 points to close at 143,722.62 points.
The market capitalization dropped from N93.5 trillion to N91.4 trillion. This represents a 2.24% decline on a weekly basis.
Investors’ participation decreased significantly, with a total of 26 billion shares traded during the week, down from the 73 billion shares traded in the prior week.
The sell-off in heavyweight stocks dragged the market. This is driven by notable declines in ACCESSCORP (-10.9%), DANGOTE CEMENT (-10%), UBA (-7.75%) and ZENITH BANK (6.64%).
The NGX premium experienced a 4.79% weekly loss on the back of ACCESSCORP, DANGOTE CEMENT, UBA and ZENITH BANK. The NGX 30 index fell by 2.34% and the NGX Pension index decreased by 2.31%.
Among the sectors, the NGX insurance index dropped the most by 7.05% dragged by International Entergy Insurance, Veritas Capital Assurance, AIICO Insurance, NEM Insurance and Linkage Assurance, all of which recorded double-digit losses of over 10%.
The NGX Industrial Goods index followed with a decline of 4.50% affected by Dangote Cement (-10%), Cutix (-7.94%), and Bergar Paints (-4.41%).
The NGX Banking sector also fell by 3.85% dragged Access Holdings, Zenith Bank and Wema Bank, while FCMB and GTCO recorded softer losses under 3%.
During the week, 20 equities appreciated in price, fewer than 48 equities in the prior week. 60 equities declined in price while 67 equities remained unchanged.
Market Analysis:
– ASI Weekly Close: 143,722.62 points
– Market Capitalization: N91.415 trillion
– Week-on-Week Change: -2.24%
– Year-to-Date Return: 39.64%
Top Gainers
Despite the bearish mood, NCR (Nigeria) Plc delivered an exceptional performance, soaring 60.55% to close at N41.10.
Other top gainers included:
University Press: +17.65%
Tantalizers: +17.29%
Caverton Offshore: +17.02%
UACN: +16.67%
Ikeja Hotel: +15.83%
Union Dicon Salt: +11.11%
Top Losers
The worst-performing stocks were mainly from the insurance sector.
International Energy Insurance led with a 22.06% loss, followed by:
McNichols: –14.90%
Veritas Kapital: –14.89%
AIICO: –13.70%
LivingTrust Mortgage: –13.53%
Livestock Feeds: –12.86%
NEM Insurance: –12.75%
The bearish performance of the Nigerian stock market reflects negative investor sentiment and profit-taking activities. The year-to-date return dropped to 39.64%, but the quarterly return is slightly up by 0.71%. If investors’ cautious sentiments persist, the fourth quarter of the year 2025 is likely to end in red.
