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

• The Nigerian Exchange ended the week with a poor performance as Investors who took profit majorly in Oil & Gas stocks
• In the last trading day, Red Star Express Plc, University Press Plc, ABC Transport Plc and McNichols Plc led the gainers table
• The losers' table includes Northern Nigeria Flour Mills Plc, Transcorp Hotels Plc, Learn Africa Plc and Legendary Investments Plc

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market ended the week on a negative note, shedding 0.62% as profit-taking, particularly in oil and gas stocks, dragged the market lower.

At the close 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 previous week’s 109,710.37.

Nigerian stock investors record a loss Photo credit: Bloomberg/contributor
Source: Getty Images

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

Sectoral performance of the stock market in one week

The Oil & Gas sector 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 also slipped, down 1.52%.

In contrast, the NGX Consumer Goods Index advanced 2.09%, while the NGX Insurance and NGX Industrial Indices rose by 0.73% and 0.72%, respectively, as bargain hunters selectively moved into those sectors.

Here is a snapshot of the market on Friday

On Friday, a total of 637,541,391 shares were exchanged in 15,927 deals, valued at N18.12 billion.

Top 5 gainers:

• Red Star Express Plc rose by N0.61, increasing from N6.10 to N6.71 per share (+10.00%).
• University Press Plc gained N0.39, moving from N3.97 to N4.36 per share (+9.82%).
• ABC Transport Plc appreciated by N0.22, climbing from N2.27 to N2.49 per share (+9.69%).
• McNichols Plc advanced by N0.19, rising from N2.10 to N2.29 per share (+9.05%).
• Lasaco Assurance Plc added N0.21, up from N2.48 to N2.69 per share (+8.47%).

Nigeria's stock market ended the week on 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 share (-9.97%).
• Transcorp Hotels Plc declined by N15.30, decreasing from N153.80 to N138.50 per share (-9.95%).
• Learn Africa Plc lost N0.44, moving from N4.45 to N4.01 per share (-9.89%).
• Legendary Investments Plc fell by N0.80, dropping from N8.40 to N7.60 per share (-9.52%).
• Sovereign Trust Insurance Plc shed N0.09, down from N1.05 to N0.96 per share (-8.57%).

Top 5 trades by volume:

• Tantalizers Plc recorded 145,076,256 shares valued at 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 worth N2,572,732,561.75.
• United Bank for Africa Plc traded 45,144,548 shares valued at N1,535,237,812.25.
• Guaranty Trust Holding Company Plc posted 29,381,314 shares, with a total value of N2,046,818,582.30.

Naira trades high

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

The naira has continued its upward swing in May, rising from N1,612 as of May 7, 2025, the lowest this month.

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

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Source: Legit.ng