Nigerian Stock Market Rebounds, Gains 0.22% as Banking Stocks Lead

• The NGX All-Share Index climbed 473.17 points on Thursday, August 28, driven by buying interest in banking and insurance stocks
• Omatek, Cornerstone Insurance, and AXA Mansard were among the top gainers while Fidson and Learn Africa recorded steep losses
• Market breadth remained weak with 39 stocks closing lower than the 19 that gained, signalling cautious investor sentiment

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market closed on a positive note on Thursday, August 28, 2025, as fresh bargain-hunting activity, particularly in financial sector stocks, helped the benchmark index recover from recent losses.

The NGX All-Share Index (ASI) closed at 239,156.09 points, up 473.17 points from the previous session’s close of 238,682.92 points.

Market capitalisation grew by N305 billion to reach N154.442 trillion, compared with N154.137 trillion recorded the day before.

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Sector performance

• NGX Banking Index led the sector gainers, rising by 1.58%.
• NGX Insurance Index increased slightly by 0.03%.
• NGX Consumer Goods Index declined by 0.20%.
• NGX Oil & Gas Index fell by 0.07%.
• NGX Industrial Goods Index closed flat.

Top gainers

• Omatek rose by 9.60% to close at N1.37.
• Cornerstone Insurance gained 9.18% to N5.35.
• AXA Mansard advanced by 9.09% to N12.00.
• Abbey Bank increased by 6.25% to N8.50.
• First Holdco gained 4.65% to N135.00.

Top losers

• Fidson declined by 9.98% to N75.80.
• Learn Africa fell by 9.84% to N8.70.
• International Energy Insurance dropped by 9.84% to N2.84.
• DAAR Communications declined by 8.61% to N1.38.
• Legend Internet fell by 8.43% to N3.80.

Despite the positive movement in the benchmark index, market breadth remained weak, with 39 stocks closing lower compared with 19 gainers.

The negative breadth indicated that selling pressure remained present across several counters despite renewed buying interest in selected banking and insurance stocks.

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Most active stocks

A total of 500.0 million shares worth N35.2 billion were exchanged in 40,323 deals, compared with 733.4 million shares valued at N34.5 billion in 49,210 deals in the previous session.

Transaction value increased by 2.03%, while trading volume and the number of deals declined by 31.82% and 18.06%, respectively.

• Zenith Bank led trading activity with 70.0 million shares valued at N8.2 billion.
• Access Holdings traded 45.4 million shares worth N1.3 billion.
• GTCO exchanged 37.5 million shares valued at N4.8 billion.
• Sterling Holdings traded 37.2 million shares worth N283.0 million.
• Coronation Insurance recorded 24.3 million shares valued at N49.4 million.

CSCS removes family transfer charges

Earlier, Legit.ng reported that the Central Securities Clearing System (CSCS) is proposing to cut costs for retail investors and stockbrokers in Nigeria’s capital market, with plans to halve a key fee on securities used as collateral and waive charges on transfers between close family members.

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Under the proposed changes, the lien fee for retail clients handling transactions below N100 million would drop from 0.25% to 0.125%, a reduction of 50%.

CSCS is also proposing to remove the existing 0.3% charge on nominal transfers of qualifying securities between immediate family members.

Source: Legit.ng