NGX Market Recap – Monday, June 23, 2025
Market defies turnover dip to open week strong
The Nigerian equities market began the week on a positive note, as the NGX All Share Index (ASI) climbed 0.37% to close at 118,138.22 points, pushing the year-to-date (YTD) return to 14.92%.
Key Highlights
• Market Capitalisation Gain: Investors gained approximately ₦273 billion in value.
• Total Market Volume: Rose modestly to 628.7 million shares (vs. 601.8M on Friday).
• Turnover: Fell by 16.15% to ₦19.9 billion, suggesting a shift toward lower-priced or small-cap stocks.
• Market Breadth: Bullish at 1.3x, with 43 gainers vs 33 losers.
Market Breadth & Sector Insights
• Selective Buying Dominates: While more stocks advanced than declined, volume rose in 68 stocks but fell in 71 — indicating rotational play rather than a broad-based rally.
• Turnover Drop Analysis: Lower turnover despite higher volume hints at flows into penny stocks or speculative names, as institutional players await clearer market direction.
• Unusual Volume Alerts:
• FTNCOCOA: +738% above average volume
• NASCON: +407%
• NB (Nigerian Breweries): +234%
• CUSTODIAN: +211%
• FIDELITYBK: +114%
These spikes may signal accumulation, insider trades, or incoming catalysts.
Top Gainers
Stock Price (₦) % Change RSI Notes
BETAGLAS 303.60 +10.00% 81.79 Overbought territory, YTD gain of +367.8%
PRESCO 1210.00 +10.00% 89.67 Extremely overbought; strong institutional interest
NEIMETH 4.07 +10.00% 65.05 Solid momentum, still room before overbought zone
FTNCOCOA 3.08 +10.00% 65.06 Huge volume spike; price strength sustained
CHAMPION 9.02 +10.00% 69.95 Volatile; appears as both top gainer & loser (unusual)
Top Losers
Stock Price (₦) % Change RSI Notes
CHAMPION 9.02 -10.00% 69.95 High volatility; appears in both gainer/loser table
JBERGER 117.50 -7.48% 47.66 Broke below 15-day moving average — sell pressure
CHAMS 2.05 -5.09% 45.99 Likely consolidating after strong prior gains
NSLTECH 0.57 -5.00% 51.94 No dividend; speculative trading signals
MULTIVERSE 9.20 -4.66% 58.18 Mild pullback after earlier YTD gains
Technical Patterns & Trading Signals
Bullish Flags:
• Stocks Above 15DMA: CWG, FIRSTHOLDCO, ETERNA, NEWGOLD, FCMB, NB
• Strong Momentum Stocks (RSI >80): BETAGLAS, PRESCO, NASCON, GTCO
⚠️ These may experience short-term pullbacks due to overbought levels.
Bearish Flags:
• Below 15DMA (possible reversal): UBA, DANGCEM, JAIZBANK, FIDELITYBK, JBERGER
Despite strong fundamentals/dividends, technicals suggest cooling momentum.
What to Watch
1. Dividend Plays Under Pressure: UBA (5.96%), DANGCEM (6.27%), and FIDELITYBK (5.48%) all showing sell signals — could suggest “buy-the-rumor, sell-the-news” behavior.
2. Rotational Interest: Movement from blue-chip names into mid-to-small cap stocks is becoming more visible, possibly driven by Q2 positioning.
3. FTNCOCOA & NASCON: Both showing bullish setups with high volume — potential for breakout continuation if momentum holds.
4. NB’s Quiet Move: Huge volume but little price action may suggest stealth accumulation or distribution. Watch closely.
Conclusion
The NGX started the week with positive breadth, smart money signals, and early bullish setups, especially in consumer goods, building materials, and agric-industrials. However, the dip in turnover and RSI overextensions in some leaders call for cautious optimism.
⚠️ Watch for profit-taking in overbought stocks and volume confirmation in breakout names.
Market defies turnover dip to open week strong
The Nigerian equities market began the week on a positive note, as the NGX All Share Index (ASI) climbed 0.37% to close at 118,138.22 points, pushing the year-to-date (YTD) return to 14.92%.
Key Highlights
• Market Capitalisation Gain: Investors gained approximately ₦273 billion in value.
• Total Market Volume: Rose modestly to 628.7 million shares (vs. 601.8M on Friday).
• Turnover: Fell by 16.15% to ₦19.9 billion, suggesting a shift toward lower-priced or small-cap stocks.
• Market Breadth: Bullish at 1.3x, with 43 gainers vs 33 losers.
Market Breadth & Sector Insights
• Selective Buying Dominates: While more stocks advanced than declined, volume rose in 68 stocks but fell in 71 — indicating rotational play rather than a broad-based rally.
• Turnover Drop Analysis: Lower turnover despite higher volume hints at flows into penny stocks or speculative names, as institutional players await clearer market direction.
• Unusual Volume Alerts:
• FTNCOCOA: +738% above average volume
• NASCON: +407%
• NB (Nigerian Breweries): +234%
• CUSTODIAN: +211%
• FIDELITYBK: +114%
These spikes may signal accumulation, insider trades, or incoming catalysts.
Top Gainers
Stock Price (₦) % Change RSI Notes
BETAGLAS 303.60 +10.00% 81.79 Overbought territory, YTD gain of +367.8%
PRESCO 1210.00 +10.00% 89.67 Extremely overbought; strong institutional interest
NEIMETH 4.07 +10.00% 65.05 Solid momentum, still room before overbought zone
FTNCOCOA 3.08 +10.00% 65.06 Huge volume spike; price strength sustained
CHAMPION 9.02 +10.00% 69.95 Volatile; appears as both top gainer & loser (unusual)
Top Losers
Stock Price (₦) % Change RSI Notes
CHAMPION 9.02 -10.00% 69.95 High volatility; appears in both gainer/loser table
JBERGER 117.50 -7.48% 47.66 Broke below 15-day moving average — sell pressure
CHAMS 2.05 -5.09% 45.99 Likely consolidating after strong prior gains
NSLTECH 0.57 -5.00% 51.94 No dividend; speculative trading signals
MULTIVERSE 9.20 -4.66% 58.18 Mild pullback after earlier YTD gains
Technical Patterns & Trading Signals
Bullish Flags:
• Stocks Above 15DMA: CWG, FIRSTHOLDCO, ETERNA, NEWGOLD, FCMB, NB
• Strong Momentum Stocks (RSI >80): BETAGLAS, PRESCO, NASCON, GTCO
⚠️ These may experience short-term pullbacks due to overbought levels.
Bearish Flags:
• Below 15DMA (possible reversal): UBA, DANGCEM, JAIZBANK, FIDELITYBK, JBERGER
Despite strong fundamentals/dividends, technicals suggest cooling momentum.
What to Watch
1. Dividend Plays Under Pressure: UBA (5.96%), DANGCEM (6.27%), and FIDELITYBK (5.48%) all showing sell signals — could suggest “buy-the-rumor, sell-the-news” behavior.
2. Rotational Interest: Movement from blue-chip names into mid-to-small cap stocks is becoming more visible, possibly driven by Q2 positioning.
3. FTNCOCOA & NASCON: Both showing bullish setups with high volume — potential for breakout continuation if momentum holds.
4. NB’s Quiet Move: Huge volume but little price action may suggest stealth accumulation or distribution. Watch closely.
Conclusion
The NGX started the week with positive breadth, smart money signals, and early bullish setups, especially in consumer goods, building materials, and agric-industrials. However, the dip in turnover and RSI overextensions in some leaders call for cautious optimism.
⚠️ Watch for profit-taking in overbought stocks and volume confirmation in breakout names.