Market Dips Amid Thin Trading as REDSTAREX, ABCTRANS Lead Gainers on May 23, 2025

The Nigerian Exchange (NGX) closed marginally lower on Thursday, May 23, 2025, as the All-Share Index (ASI) shed 0.14% to close at 109,028.62 points amid sharp declines in trade volume and activity.

Despite a session of mixed sentiments, the market posted 27 gainers against 20 losers, highlighting selective investor interest and heightened caution following recent macroeconomic data.

Market Summary

Indicator

Value

% Change

ASI

109,028.62

-0.14%

Deals

15,927

-38.57%

 

Volume

637.54 million

-61.04%

 

Value

₦18.12 billion

-4.05%

 

Market Capitalization

₦68.75 trillion

+0.19%

YTD Change

+5.93%

 

Top Gainers: REDSTAREX and ABCTRANS Rally

Leading the bullish chart, REDSTAREX surged 10% from ₦6.10 to ₦6.71, followed by ABCTRANS, which climbed 9.69% to close at ₦2.49. Other notable performers included: MCNICHOLS (+9.05%), LASACO (+8.47%), PRESCO (+7.95%).

Biggest Volumes: TANTALIZER Tops Trade Volume

TANTALIZER led the board with 145.1 million shares traded, followed by Fidelity Bank with 85.6 million shares, and NB Plc with 47.5 million shares.

Bottom Losers: NNFN, TRANSCOT Decline Sharply

NNFM dropped 9.97% to ₦118.70. TRANSCOT fell 9.95%, closing at ₦138.50. Others in the red include LEARNAFRCA (-9.89%), LEGENDINT (-9.52%), SOVRENINS (-8.57%).

Market Sentiment: Low Volumes Signal Caution

Investor sentiment was subdued, as reflected in the 61% drop in volume and 38.57% slide in trades. Analysts attribute this to cautious positioning ahead of expected monetary policy decisions and ongoing inflationary pressures.

Smallest Volumes: Limited Action in ENAMELWA and LIVINGTRUST

ENAMELWA and LIVINGTRUST recorded minimal trading, with ENAMELWA registering just 10 units traded across one deal.

Outlook

With Nigeria’s inflation at 23.71% (April 2025) and the Monetary Policy Rate (MPR) holding firm at 27.50%, investors are expected to remain selective.

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