The Nigerian stock market continued its upward trajectory on October 9, 2025, as the All-Share Index (ASI) advanced by 485.2 points to close at 146,204.3. This represented a 0.33% increase from 145,719.1 points in the previous session, extending the year-to-date gain to an impressive 42.05%.
Market capitalization also reflected the bullish tone, rising to N92.7 trillion across 24,691 deals. Despite a slowdown in activity, the market’s resilience above the N92 trillion threshold signals sustained investor confidence in key sectors.
Trading volume declined to 346.9 million shares from 525.6 million recorded the day before, indicating mild profit-taking after recent rallies. The reduced activity, however, did not dampen market sentiment, as major stocks continued to attract strong investor participation.
FIDELITY BANK topped the activity chart with 42 million shares, while Dangote Cement followed with 20.9 million shares traded. STERLINGNG ranked third with 19.8 million shares, as JAIZBANK and CHAMS completed the top five with 19.4 million and 17.6 million shares, respectively.
Dangote Cement stood out as the day’s most traded stock by value, recording transactions worth N11 billion. The heavyweight’s strong showing provided critical support for the index, underlining its influence on overall market performance.
NESTLE and MTN Nigeria followed closely, posting trades worth N5.09 billion and N4.93 billion, respectively. ARADEL recorded N1 billion in transactions, while FIDELITY BANK rounded out the top five with N861.5 million.
Gainers and Losers
On the gainers’ chart, EUNISELL and CAVERTON led with 10% daily advances, closing at N44.00 and N6.93, respectively. SUNUASSUR climbed 9.90% to N5.77, IMG rose 9.10% to N35.95, while MECURE added 8.81% to settle at N28.40.
Meanwhile, FTNCOCOA lost 6.67% to close at N5.60, TANTALIZER declined 3.35% to N2.31, and FIDELITY BANK dropped 2.38% to N20.50. PZ Cussons shed 2.18% to N38.15, while VERITASKAP slipped 1.90% to N2.06, rounding out the day’s major laggards.
Blue-Chip and Banking Sector Snapshot
Among Stocks Worth Over One Trillion Naira (SWOOTs), trading ended mixed. Dangote Cement rose 1.89%, INTERNATIONAL BREWERIES gained 2.19%, and NIGERIAN BREWERIES advanced 1.10%, while BUA Cement edged down 0.63%.
Tier-one banks (FUGAZ) also recorded largely positive movements. GTCO gained 1.06%, FIRSTHOLDCO rose 0.32%, and ZENITH BANK appreciated 0.29%, though ACCESSCORP and UBA fell 0.76% and 0.35%, respectively.
Market Outlook
The ASI’s steady climb above 146,000 points underscores renewed investor appetite for mid- and large-cap stocks. Analysts expect sustained gains in Dangote Cement, MTN, and banking equities to reinforce the rally in the coming sessions, barring external market shocks.
The Nigerian market’s 42% year-to-date surge reflects strong earnings momentum and strategic repositioning by institutional investors, setting the stage for a potential record finish in 2025.