See more as Nigeria's stock market closes positively, investors make love N1trn

• The Nigerian Exchange ended the week with a beardown show arsenic user goods, industrial, and security stocks drove the marketplace
• During the week marketplace recorded 3 consecutive days of gains, compared to 2 antagonistic sessions
• On Friday, Omatek Ventures Plc, Omatek Ventures Plc, Sovereign Trust Insurance Plc led the gainers table

Legit.ng writer 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 affirmative note, gaining 1.05% contempt profit-taking successful lipid and state arsenic good arsenic banking equities.

At the adjacent of trading for the week ended Friday, May 30, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) roseate to 111,742.01 points from the erstwhile week’s 109,710.37 points.

Stock marketplace rises by implicit N1 trillion successful 1 week Photo credit: Nurphoto
Source: Getty Images

Market capitalisation besides accrued importantly by N1.51 trillion to N70.462 trillion, compared to N68.953 trillion the erstwhile week.

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:

• Omatek Ventures Plc roseate by N0.07, expanding from N0.71 to N0.78 per stock (+9.86%).
• Red Star Express Plc gained N0.73, moving from N7.59 to N8.32 per stock (+9.62%).
• DEAP Capital Management & Trust Plc appreciated by N0.09, climbing from N0.96 to N1.05 per stock (+9.38%).
• Sovereign Trust Insurance Plc added N0.09, up from N0.99 to N1.08 per stock (+9.09%).
• May & Baker Nigeria Plc precocious by N0.90, rising from N10.90 to N11.80 per stock (+8.26%).

Investors marque implicit N1trn aft 1 week of trading Photo credit: Bloomberg/contribuor
Source: Getty Images

Top 5 decliners:

• Beta Glass Plc dropped by N25.85, falling from N258.50 to N232.65 per stock (-10.00%).
• NCR Nigeria Plc declined by N0.73, decreasing from N7.30 to N6.57 per stock (-10.00%).
• Conoil Plc mislaid N33.10, moving from N331.20 to N298.10 per stock (-9.99%).
• Legendary Investments Plc fell by N0.68, dropping from N6.84 to N6.16 per stock (-9.94%).
• Industrial and Medical Gases Nigeria Plc shed N3.70, down from N37.35 to N33.65 per stock (-9.91%).

Top 5 trades by volume:

• United Bank for Africa Plc recorded 1,414,838,182 shares traded, valued astatine N49,022,171,950.55.
• United Capital Plc saw 66,836,845 shares exchanged, amounting to N1,322,030,019.25.
• Access Holdings Plc registered 53,968,127 shares worthy N1,187,055,439.55.
• Fidelity Bank Plc traded 31,379,186 shares, valued astatine N606,093,718.80.
• Zenith Bank Plc posted 29,928,179 shares, with a full worth of N1,462,013,282.10.

Naira closes week strong

Earlier, Legit.ng reported that the worth of the Nigerian currency has appreciated against the US dollar successful the official overseas speech markets.

New information shows that the naira improved by 0.09% astatine the adjacent of trading week connected Friday successful the NFEM window.

Financial experts person predicted that the naira volition proceed to beryllium stable, but person ruled retired further strengthening.

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Source: Legit.ng