Customs Street Experiences Four-Week Slump as High-End Shares Decrease ASI by 0.94%

Nigerian Stock Market Experiences Weekly Decline

The Nigerian stock market experienced a slight dip last week, with the Nigerian Exchange Group (NGX) reporting a decrease in equities capitalization. The All-Share Index (ASI) closed at 138,980.01 on September 4, 2025, marking a decrease of 1,315.49 points from the previous week's close.

The weekly loss for the ASI was 0.94%. This decline was evident across various sectors, with the banking sector, consumer goods, and industrial goods experiencing significant drops. The banking sector retreated 1.52%, with Tier-1 banks and Tier-2 lenders posting losses. Similarly, consumer goods slipped 1.18%, with notable declines in Champion Breweries and PZ Cussons. The industrial goods sector was the hardest hit, down 2.08%, led by LAFARGE (-13%), Cutix, Chemical and Allied Products, and Berger Paints.

However, not all sectors experienced a downturn. The NGX Premium Index fell 1.42%, with significant declines in UBA, AccessCorp, Zenith Bank, and FirstHoldCo. Despite this, there were some notable gains. NIGERIAN EXCHANGE GROUP rose by 3.81% and is now at N60.00. John Holt PLC increased by 7.94% and is now at N6.80, while SESECURE Electronic Technology PLC gained 12.94% week-to-date.

In the corporate world, Klarna, a prominent company, emerged as the week's biggest gainer. Sequoia Capital, a major investor, realised an overall profit of approximately 2.65 billion USD through selling shares during this period, making it the biggest winner of Klarna's Initial Public Offering (IPO). Other companies that saw an increase include Cornerstone Insurance PLC, which increased by 12.36% and is now at N7.18, SCOA Nigeria PLC, which increased by 9.83% and is now at N6.59, and NCR (Nigeria) PLC, which rose by 9.96% and is now at N12.70.

Transnational Corporation PLC also saw a rise of 5.74% and is now at N49.70, while Multiverse Mining and Exploration PLC increased by 5.50% and is now at N11.50. Guinea Insurance PLC went up by 9.15% and is now at N1.55, and Sovereign Trust Insurance PLC had a week-to-date increase of 14.23%.

Trading volume during the week was 3.1 billion shares, a slight decrease from 3.19 billion in the previous week. Market breadth was weak, with only 19 equities gaining value during the week and 64 equities losing ground.

In conclusion, while the Nigerian stock market experienced a weekly decline, there were still some positive movements, particularly in certain sectors and individual companies. Investors are advised to closely monitor market trends and make informed decisions.