The Nigerian equities market recovered on Tuesday, November 25, snapping a six-day losing streak as investors gained renewed confidence following the Central Bank of Nigeria’s (CBN) decision to retain key monetary policy parameters.
Market capitalization rose by N95 billion to N91.441 trillion, while the All-Share Index (ASI) advanced by 148.52 points (0.10%) to close at 143,763.13 points.
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The positive performance was driven largely by gains in GTCO (+1.4%), STERLINGNG (+9.0%), FIRSTHOLDCO (+1.5%), and UACN (+7.2%). Month-to-date and year-to-date returns also improved slightly to -6.7% and +39.7%, respectively.
Market Performance Snapshot
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ASI: +0.10% → 143,763.13 points
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MtD: -6.7%
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YtD: +39.7%
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Volume traded: 556.15 million units (-20%)
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Value traded: N18.71 billion
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Total deals: 19,500
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Top traded (volume): FIRSTHOLDCO — 93.72 million units
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Top traded (value): STANBIC — N3.21 billion
Sectoral Performance
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Banking: +0.4%
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Insurance: -0.8%
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Oil & Gas: -0.2%
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Industrial Goods: Flat
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Consumer Goods: Flat
CBN Policy Retention Lifts Market Sentiment
Analysts attributed the rebound to investor optimism after the CBN retained all key policy rates at its 303rd Monetary Policy Committee (MPC) meeting.
Mr. Tajudeen Olayinka, CEO of Wyoming Capital and Partners, said the policy stance “signalled stability,” prompting fresh interest in medium- and large-cap stocks. Holding the interest rate steady helped restore confidence among cautious investors seeking clarity, he noted.
Key Monetary Policy Parameters
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MPR: 27%
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CRR: 45% (commercial banks), 16% (merchant banks)
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CRR on non-TSA public deposits: 75%
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Liquidity Ratio: 30%
Market Breadth and Top Movers
Market sentiment strengthened, with 26 gainers outperforming 20 losers.
Top 5 Gainers
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NCR — +9.98% to N45.20
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IKEJAHOTEL — +9.86% to N22.85
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PRESTIGE — +9.56% to N1.49
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EUNISELL — +9.49% to N86.50
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STERLINGNG — +8.96% to N7.30
Top 5 Losers
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UNIONDICON — -10.00% to N6.30
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CAVERTON — -10.00% to N4.95
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SUNUASSUR — -4.78% to N4.38
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LASACO — -4.58% to N2.50
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MANSARD — -4.23% to N12.45
Activity Levels Dip Despite Market Uptick
Trading activity slowed, with total volume down by 18.62% to 556.15 million units valued at N18.71 billion.
Top traded stocks included:
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FBN Holdings: 93.72 million shares (N2.91 billion)
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Access Holdings: 81.76 million shares (N1.69 billion)
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Fidelity Bank: 41.79 million shares (N796.39 million)
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FCMB Group: 38.03 million shares (N386.76 million)
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UBA: 31.95 million shares (N1.15 billion)
Outlook
Analysts at Cordros Capital expect the CBN’s policy continuity to sustain near-term investor confidence. However, they caution that market direction will remain dependent on corporate earnings performance and liquidity conditions until broader macroeconomic improvements take shape.
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