See more as Nigeria's stock market closes negatively by 0.62% in one week

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Nigeria’s Stock Market Closes Negatively by 0.62% successful  One Week
  • The Nigerian Exchange ended the week with a mediocre show arsenic Investors who took nett majorly successful Oil & Gas stocks
  • In the past trading day, Red Star Express Plc, University Press Plc, ABC Transport Plc and McNichols Plc led the gainers table
  • The losers' array includes Northern Nigeria Flour Mills Plc, Transcorp Hotels Plc, Learn Africa Plc and Legendary Investments Plc

Legit.ng journalist Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Nigerian banal marketplace ended the week connected a antagonistic note, shedding 0.62% arsenic profit-taking, peculiarly successful lipid and state stocks, dragged the marketplace lower.

At the adjacent of trading for the week ended Friday, May 23, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) declined to 109,028.62 points from the erstwhile week’s 109,710.37.

Nigeria banal  marketplace  closes negativeNigerian banal investors grounds a loss Photo credit: Bloomberg/contributor
Source: Getty Images

Market capitalisation besides dropped by N202 cardinal to N68.751 trillion, compared to N68.953 trillion the week before.

Sectoral show of the banal marketplace successful 1 week

The Oil & Gas assemblage bore the brunt of the sell-offs, with the NGX Oil & Gas Index falling 3.44% week-on-week, the heaviest sectoral loss.

The NGX Banking Index besides slipped, down 1.52%.

In contrast, the NGX Consumer Goods Index precocious 2.09%, portion the NGX Insurance and NGX Industrial Indices roseate by 0.73% and 0.72%, respectively, arsenic bargain hunters selectively moved into those sectors.

Here is simply a snapshot of the marketplace connected Friday

On Friday, a full of 637,541,391 shares were exchanged successful 15,927 deals, valued astatine N18.12 billion.

Top 5 gainers:

  • Red Star Express Plc rose by N0.61, expanding from N6.10 to N6.71 per stock (+10.00%).
  • University Press Plc gained N0.39, moving from N3.97 to N4.36 per stock (+9.82%).
  • ABC Transport Plc appreciated by N0.22, climbing from N2.27 to N2.49 per stock (+9.69%).
  • McNichols Plc precocious by N0.19, rising from N2.10 to N2.29 per stock (+9.05%).
  • Lasaco Assurance Plc added N0.21, up from N2.48 to N2.69 per stock (+8.47%).
Nigeria stocks marketplace  performanceNigeria's banal marketplace ended the week connected the negative Photo credit: Nurphoto
Source: Getty Images

Top 5 decliners:

  • Northern Nigeria Flour Mills Plc dropped by N13.15, falling from N131.85 to N118.70 per stock (-9.97%).
  • Transcorp Hotels Plc declined by N15.30, decreasing from N153.80 to N138.50 per stock (-9.95%).
  • Learn Africa Plc mislaid N0.44, moving from N4.45 to N4.01 per stock (-9.89%).
  • Legendary Investments Plc fell by N0.80, dropping from N8.40 to N7.60 per stock (-9.52%).
  • Sovereign Trust Insurance Plc shed N0.09, down from N1.05 to N0.96 per stock (-8.57%).

Top 5 trades by volume:

  • Tantalizers Plc recorded 145,076,256 shares valued astatine N384,445,433.48.
  • Fidelity Bank Plc saw 85,565,574 shares exchanged, amounting to N1,555,996,293.80.
  • Nigerian Breweries Plc registered 47,530,299 shares worthy N2,572,732,561.75.
  • United Bank for Africa Plc traded 45,144,548 shares valued astatine N1,535,237,812.25.
  • Guaranty Trust Holding Company Plc posted 29,381,314 shares, with a full worth of N2,046,818,582.30.

Naira trades high

Earlier, Legit.ng reported that the Nigerian currency roseate to N1,579 per dollar, up from N1,583.92 it traded the erstwhile day.

The naira has continued its upward plaything successful May, rising from N1,612 arsenic of May 7, 2025, the lowest this month.

Olayemi Cardoso, the politician of CBN, has attributed the naira’s stableness to reforms by the bank.

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Source: Legit.ng

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