By Taiye Olayemi
Lagos, Dec. 30, 2025
The Nigerian Exchange (NGX) witnessed a significant surge in trading activity on Tuesday, with investors exchanging a massive 4.683 billion shares valued at N38.864 billion across 34,852 deals. This session provided a clear snapshot of shifting market dynamics as the year draws to a close.
A Day of Contrasts: Volume Soars, Deals Consolidate
Compared to Monday’s session (1.47 billion shares worth N35.5 billion in 47,892 deals), Tuesday’s metrics reveal a fascinating story:
- Volume Growth (+219%): The near-tripling of shares traded indicates either a major block deal or heightened speculative activity in specific high-volume stocks.
- Value Increase (+9%): The modest rise in total value relative to the volume surge suggests a higher proportion of lower-priced shares were in play.
- Deal Decline (-27%): Fewer transactions handling a larger volume point towards institutional or high-net-worth investor activity dominating the session, as opposed to retail-driven fragmentation.
The Cornerstone Insurance Dominance
A single stock, Cornerstone Insurance, overwhelmingly dictated the day’s flow. It accounted for:
3.67 billion shares (78.36% of total volume) valued at N18.53 billion (47.69% of total value). [[PEAI_MEDIA_X]] Such extreme concentration often follows a strategic stake acquisition, a major cross-trade between parties, or significant news driving liquidity. Investors should watch for subsequent filings or announcements to understand the context behind this outsized activity.
Broad Market Momentum Continues
Beyond the headline volume, the underlying market health remained positive. The benchmark All-Share Index (ASI) gained 645.19 points (0.42%) to close at 155,034.72. More importantly, total Market Capitalisation rose by N411 billion to N98.843 trillion, directly adding wealth to investor portfolios.
This advance pushed the critical Year-to-Date (YTD) return to 50.63%, solidifying 2025 as a strongly bullish year for Nigerian equities.
Market Breadth and Stock-Specific Moves
The positive sentiment was broad-based. Market breadth—a key indicator of overall participation—closed positive with 47 gainers against 24 losers.
Top Gainers (Driving the Index):
• Julius Berger, Honeywell Flour, Guinness Nigeria: +10% each. Gains in construction, consumer goods, and breweries suggest diversified demand.
• Austinlaz & Multiverse Mining: +9.94% and +9.88% respectively, indicating strength in industrial goods and the solid minerals sector.
Top Losers (Profit-Taking or Weakness):
• Union Dicon Salt & Livingtrust Mortgage Bank: -10% each. [[PEAI_MEDIA_X]]
• First Holding, Veritas Kapital, Mutual Benefits: Notable declines in financial services, highlighting sector-specific rotation.
Expert Analysis: Reading Between the Lines
Tuesday’s session is a classic study in divergent signals. The staggering volume growth, led by a single stock, contrasts with a more measured rise in total market value. This often signifies a liquidity event rather than a broad-based buying frenzy. The decline in the number of deals further supports this, pointing to large, chunky transactions.
For investors, the key takeaways are:
1. The overall market trend remains upward (rising ASI, positive breadth).
2. Extreme stock-specific volatility can distort daily volume data; always look at the broader indicators.
3. A YTD return above 50% warrants a review of portfolio balance and profit-taking strategies as the year ends.
Source: NAN (www.nannews.ng). Edited by Olawunmi Ashafa.
