Market Update For December 1, 2025
The Nigerian equities market began the first trading session of December on a restrained note, marking a shift from the bullish momentum observed throughout the latter part of November. Monday’s performance reflected a market entering a seasonally active yet psychologically cautious period, where fund managers reassess valuations and traders rebalance portfolios in preparation for year-end activities.
Although the broader sentiment initially appeared stable, the session deteriorated gradually as sell orders deepened and investors locked in profits across sectors that had recently witnessed heightened buying interest. December traditionally presents a complex interplay between bargain-hunting and profit-taking; this year appears no different, especially given the strong year-to-date rally that has made several stocks attractive candidates for harvesting gains.
The consumer goods sector was at the centre of the day’s pullback. The sector has enjoyed significant attention in recent weeks due to improved liquidity, positive earnings expectations, and thematic interest around seasonal consumption patterns. However, Monday saw a reversal of that bullish bias. INTBREW suffered a sharp decline after traders exited positions taken during its recent recovery, while DANGSUGAR and UACN also experienced sell pressure as investors opted to crystalise profits. The broad-based declines in consumer goods highlight the fragility of recent gains and the readiness of market participants to step aside temporarily until clearer signals emerge.
The insurance sector mirrored this cautious mood. NEM, which had rallied strongly in November amid renewed investor appetite for low-priced financials, faced aggressive selloffs as traders rotated capital towards less-volatile counters. Similar price weakness was seen across other mid-tier insurance names, signalling early December repositioning rather than structural weakness.
Large-cap names exhibited mixed behaviour throughout the session. MTNN, DANGCEM and NESTLE attracted mild accumulation intraday, likely from institutional players adjusting weighted exposures ahead of expected FY-2025 corporate actions. Although these bellwether equities traded above their opening levels for much of the session, buyer enthusiasm was insufficient to push them firmly into positive territory, leading to flat closes at their respective VWAPs. UBA, however, stood out among the Tier-1 lenders, advancing by over 1.5% following measured demand from domestic institutional investors and high-net-worth individuals. FBNH, ZENITHBANK and GTCO were less active, suggesting investors are waiting for clearer price signals and macro catalysts before taking new positions.
Market activity on Monday also showcased the influence of negotiated deals on turnover trends. A sizeable off-market cross involving CORNERST significantly lifted total transaction value, a reminder of the increasing role of block trades in shaping daily liquidity patterns on the NGX. While retail participation remained healthy, the institutional footprints were more evident, particularly in financials and select industrial names.
Global macro conditions added an additional layer of complexity to the trading environment. Crude oil prices strengthened modestly, rebounding after geopolitical disruptions threatened short-term supply stability. A drone strike targeting infrastructure belonging to the Caspian Pipeline Consortium temporarily paused operations at one of its mooring points, affecting facilities responsible for transporting nearly 1% of global crude. Although operations resumed later, the temporary outage introduced renewed volatility into the oil market. Brent crude hovered around $62.83 per barrel, and WTI settled near $58.96, supported further by OPEC+’s decision to maintain its production quotas for the first quarter of 2026. These developments may serve as a positive backdrop for Nigeria’s macro sentiment, government revenue outlook, and investor expectations—particularly for energy-linked stocks.
Technically, the NGX appears to be entering a consolidation zone. Monday’s decline showed that the index encountered stiff resistance just below the 144,000 mark, a level that aligns with recent price ceilings observed in late November. The weakening momentum suggests that investors may wait for a breakout above this resistance or a pullback toward support levels before re-engaging in aggressive buying. The 142,500–143,000 support band remains a critical region to watch; sustained buying interest around that zone could trigger renewed upward momentum, especially if macro factors remain favourable. Indicators such as RSI and MACD are flattening, confirming the market’s current indecision and signalling the possibility of range-bound trading in the days ahead.
As December progresses, traders should expect a blend of repositioning, tactical accumulation, and short-term corrections—particularly as institutional investors align portfolios with year-end valuation metrics. Dividend-associated strategies may also drive renewed interest in select banking, industrial, and energy counters as the market shifts gradually towards earnings season expectations.
MARKET PERFORMANCE
The domestic market closed lower as the All-Share Index (ASI) fell 0.22%, settling at 143,210.33 points. Market capitalisation shed N197.32bn to close at N91.09trn, while the year-to-date return moderated to 39.14%. Market breadth was negative with 25 decliners against 19 gainers.
Top Gainers
Market sentiment tilted in favour of a few select names, with SUNUASSUR emerging as the day’s strongest performer after climbing 9.18%. CHAMPION advanced 8.11%, while MECURE gained 7.58%. GUINEAINS also printed a solid 7.27% uptick, followed by AIICO, which closed 6.34% higher.
Top Decliners
Meanwhile, sell pressure weighed on CORNERST, which led the losers’ chart after shedding 7.83%. UPDC dipped 4.18%, while NEM slid 3.85%. CWG and AFRIPRUD also closed lower, down 2.51% and 2.27%, respectively.
Total market turnover stood at 1.47bn units valued at N18.67bn, with WEMABANK leading activity at 113.25m units worth N2.07bn, followed by ACCESSCORP and FIDELITYBK in daily volume contribution.
Invest 2026 Traders & Investors Summit
Theme: Pre-Election Year Investment Opportunities & Risks
Sub-Topics
1. Comprehensive Earnings Guide for Profitable Investing and Trading in 2026, by Mr Peter Sunday Adebola, Managing Director/CEO Edgefield Capital Management Ltd
2. Pre-Election Year Rally: How Economic Events & Tax Reforms Fuel Bull Or Bear Cases In 2026, by Mr Teriba Adeboye, MD/CEO, Qualinvest Capital ltd
3. NGX Pre-Election Year Performance & Historical Patterns:10 Golden Stocks For Profitably Investing, by Mr Ambrose Omordion, CRO. Investdata Consulting Ltd
4. Nigeria Infrastructural Gap & Fiscal Policy Reforms: Where are Investment Opportunities in 2026, by Mr Tope Ojo, Managing Partner, Tope & Tunde Estate Surveyors & Valuers
5. Investment Opportunities In The Alternative Markets In 2026 & Beyond, by Dr Sylvester Anaba (PhD, FCS) Head Research, United Capital Plc
6. The Pre-election Economy & 2016 Budget: Implementation and Impact On NGX, by Mr Abiola Rasaq, Former Head, Investor Relations & Portfolio Investments United Bank For Africa Plc
7. NGX New Highs & Correction: The Power Of Price Action, Time & Momentum In Profitable Trading In 2026 & Beyound, by Mr Abdul-Rasheed Oshoma Momoh, ED Operations, TRW Stockbrokers Ltd
8. Strategies For Equity Investing & Trading In A Pre-Election Year, by Mr Kebira Jimoh Aruna, MD/CEO GlobalView Capital Ltd
Riding the tide of pre- election Years in Nigeria, 2026 is not just any year—it’s part of a powerful historical trend or pattern that should be known to smart traders or discerning investors in any investment window, market or exchange in Nigeria today. It comes with tradable opportunities and risks that are associated with elections and post-elections. The ability to navigate between politics and economy creates the wealth to makes the difference in your investment. The reading of a nation’s electoral cycle and how investors perceive whether there could be a change in leadership or continuity, is a major factor that results in much of the uncertainty in pre-election years have been known for. This, it is believed can, and does spike market volatility and businesses, especially when it is seen that a new party may take power. This summit will help market players to navigate 2026 profitably by maximizing gains and minimize losses
Take away from this summit includes:
How to construct a resilient and Powerful Portfolio that adapts to market and economic changes.
● What to expect from the market and economy as the new tax reforms kicks off in 2026.
● Why historical patterns and trends in Nigerian election cycle is important when taking your investment decision in 2026 and beyond.
● The power of liquidity and corporate earnings in price movement.
● How to anticipate big sector moves and recovery in 2026 with ongoing reforms
● Understanding the cycle of 4 years opportunities time frames that comes with election preparation in Nigeria
● 10 golden stocks for 2026
Date: December 6, 2025
Fee: N75,000
Venue: Zoom
If you want to be among the winning investors and traders in 2026, send Yes to: 08028164085, or 08179547605 now.
