Nigerian Stock Market Performance
The Nigerian stock market closed lower on Wednesday, September 24, 2025, despite the Central Bank of Nigeria (CBN) cutting its benchmark interest rate to 27%. This reduction is the first in five years and is aimed at stimulating economic growth amid slowing inflation. However, the impact of the rate cut has yet to be seen on the Nigerian Stock Exchange (NGX).
Market Trends
Data from the NGX revealed that the market slipped by 0.40% as investors sold off stocks across various sectors, including banking, oil & gas, and other major counters. The benchmark index dropped to 140,929.6 points, while the equities market capitalization decreased to ₦89.198 trillion. All key sectoral indices closed in the red, indicating a negative market trend.
Top Gainers and Losers
Despite the overall negative trend, some stocks recorded significant gains. The top 5 gainers included:
- Dangote Sugar Refinery Plc, which rose by ₦5.40 to ₦59.40 per share (+10.00%)
- Lotus Halal Equity ETF, which gained ₦6.89 to ₦75.87 per share (+9.99%)
- Mecure Industries Plc, which appreciated by ₦2.15 to ₦23.75 per share (+9.95%)
- NSTechnology Plc, which advanced by ₦0.06 to ₦0.81 per share (+8.00%)
- Cornerstone Insurance Plc, which added ₦0.48 to ₦6.48 per share (+8.00%)
On the other hand, the top 5 decliners included:
- FG Sukuk 2031 Series 4, which dropped by ₦23.44 to ₦73.50 per share (-24.18%)
- Deap Capital Plc, which declined by ₦0.18 to ₦1.73 per share (-9.42%)
- Legendary Investments Plc, which lost ₦0.50 to ₦4.90 per share (-9.26%)
- Wapic Insurance Plc, which shed ₦0.28 to ₦2.92 per share (-8.75%)
- R.T. Briscoe Plc, which fell by ₦0.32 to ₦3.60 per share (-8.16%)
CBN’s Interest Rate Cut
The CBN’s decision to cut the benchmark interest rate is expected to make borrowing cheaper and encourage spending and investment. However, the impact of this decision on the stock market has yet to be seen. The MPC also adjusted the asymmetric corridor around the MPR to +250bps/-250bps, reduced the CRR for commercial banks from 50% to 45%, and introduced a 75% CRR on Non-TSA public sector deposits.
Conclusion
In conclusion, the Nigerian stock market closed lower on Wednesday, September 24, 2025, despite the CBN’s decision to cut the benchmark interest rate. The market trends indicate a negative sentiment, with all key sectoral indices closing in the red. However, some stocks recorded significant gains, while others declined. The impact of the CBN’s interest rate cut on the stock market has yet to be seen, and investors are likely to be cautious in their investment decisions. As the market continues to evolve, it is essential to monitor the trends and developments to make informed investment decisions.
