The Nigerian Stock Exchange (NGX) experienced a volatile trading session on Friday, with several stocks recording significant price movements as investors navigated market uncertainties.
Aso Savings & Loans (ASOSAVINGS) emerged as the session’s biggest gainer, surging 10% to close at NGN 0.66 per share, up from its previous closing price of NGN 0.60.
The financial services company has demonstrated solid year-to-date performance, climbing 32% from its January opening price of NGN 0.50, though it ranks 96th overall on the exchange’s performance chart.
The hospitality sector showed remarkable strength as Ikeja Hotel Plc (IKEJAHOTEL) jumped 7.9% to NGN 20.50, making it one of the year’s standout performers. Since January, the hotel operator’s shares have soared an impressive 82.2% from NGN 11.25, placing it 61st in the year-to-date rankings—a performance that reflects growing optimism in Nigeria’s tourism and hospitality industry.
Regency Alliance Insurance (REGALINS) rounded out the top gainers with a 7.4% increase to NGN 1.30. The insurance firm has posted strong annual gains of 73.3% from its opening price of NGN 0.75, ranking 65th on the exchange. However, analysts caution that the stock has experienced recent turbulence, shedding 19% of its value over the past month.
On the losing side, Union Dicon Salt (UNIONDICON) suffered the steepest decline, dropping 9.1% to NGN 8.00 from NGN 8.80. Despite maintaining an 11.1% year-to-date gain, the salt producer has faced mounting pressure, losing 16% over the past four weeks—a trend that has raised concerns among market watchers.
Neimeth International Pharma (NEIMETH) fell 6.7% to NGN 5.60, despite being one of the year’s stellar performers with a 145% gain from its January price of NGN 2.29, ranking 31st overall. The pharmaceutical company’s recent 13% monthly decline suggests profit-taking may be underway after its impressive run.
Cornerstone Insurance Company (CORNERST) closed down 5.6% at NGN 6.23, though the insurer maintains a respectable 73.1% year-to-date gain from NGN 3.60, placing it 66th on the performance rankings.
