The Nigerian Exchange (NGX) closed mixed on Tuesday, with insurance stocks powering higher even as healthcare and industrial counters lost ground, underscoring continued sector rotation in the market.
Insurance equities dominated the day’s gainers’ chart, led by Prestige Assurance (PRESTIGE) and Wapic Insurance (WAPIC).
PRESTIGE rose 6.7% to close at ₦1.75 per share, while WAPIC advanced 6.5% to finish at ₦3.30. Both stocks have maintained strong year-to-date (YTD) momentum, posting cumulative gains of 44.6% and 46.7%, respectively. PRESTIGE currently ranks 85th, while WAPIC holds 84th place on the NGX’s YTD performance chart.
Despite the rally, analysts warned that PRESTIGE’s recent 7% four-week slide could signal near-term volatility.
Legend Internet (LEGENDINT), which joined the exchange in April 2025, also showed resilience, gaining 5.5% to close at ₦5.80. However, the stock remains 6.45% below its IPO price of ₦6.20. On a brighter note, LEGENDINT has recovered 5% since mid-September, ranking 33rd among the exchange’s short-term performers.
The upbeat tone in insurance failed to lift the healthcare sector, which saw steep declines. Fidson Healthcare (FIDSON), one of 2025’s top performers, dropped 6.7% to ₦40.60, erasing part of its earlier rally. Despite the setback, FIDSON remains up a staggering 162% YTD from ₦15.50, ranking 24th overall. The stock has, however, shed 6% over the past month, prompting some investors to lock in profits.
The industrial sector also came under pressure. Caverton Offshore Support Group (CAVERTON) slid 6.3% to ₦6.49, while Berger Paints (BERGER) declined 5.9% to ₦36.55. Still, both stocks remain strong performers in 2025, up 180% and 82.8% YTD, ranking 19th and 58th, respectively.
Analysts attribute the pullback in healthcare and industrial stocks to profit-taking, with funds rotating into smaller-cap insurance names that have lagged the broader rally.
Tuesday’s session highlights a market consolidation phase, as investors reassess positions following months of substantial gains across key sectors ahead of the year’s final quarter.
