Nigerian Stock Market Value Depreciates by N54 billion
- The Nigerian stock market recorded its first poor performance for days as the market value dropped by N54 billion
- Several stocks recorded active trading volumes, including UBA, Fidelity Bank, Nigerian Breweries, Tantalizers, and Zenith Bank
- At the close of trading, a total of 556,447,527 shares were exchanged in 18,505 deals, valued at N17.167 billion
- Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange Limited (NGX) experienced a slight decline on Thursday, May 29, after consecutive days.
Data shows that the e NGX All-Share Index closed at 111,818.08 points, which is 0.08% lower than the 111,902.61 points in the previous session.
Source: Getty Images
Market capitalisation followed suit, decreasing by 54 billion to N70.510 trillion from N70.564 trillion.
Seplat Energy emerged as the primary driver of the market's downturn, with its shares plummeting from N5,516 to N4,964.40, marking a loss of N551.60 or 10%.
Top 5 gainers:
- Mutual Benefits Assurance Plc rose by N0.10, increasing from N1.00 to N1.10 per share (+10.00%).
- University Press Plc gained N0.56, moving from N5.61 to N6.17 per share (+9.98%).
- Academy Press Plc appreciated by N0.40, climbing from N4.05 to N4.45 per share (+9.88%).
- SCOA Nigeria Plc advanced by N0.43, rising from N4.47 to N4.90 per share (+9.62%).
- Livestock Feeds Plc added N0.80, up from N8.35 to N9.15 per share (+9.58%).
Top 5 decliners:
- Legendary Investments Plc fell by N0.76, dropping from N7.60 to N6.84 per share (-10.00%).
- Seplat Energy Plc declined by N551.60, decreasing from N5,516.00 to N4,964.40 per share (-10.00%).
- Abbey Mortgage Bank Plc lost N0.68, moving from N6.87 to N6.19 per share (-9.90%)
- Omatek Ventures Plc shed N0.07, down from N0.78 to N0.71 per share (-8.97%).
- Learn Africa Plc dropped by N0.28, falling from N4.51 to N4.23 per share (-6.21%).
Source: Getty Images
Top 5 trades by volume:
- United Bank for Africa Plc recorded 82,571,498 shares valued at N2,864,801,893.80.
- Fidelity Bank Plc saw 70,600,316 shares exchanged, amounting to N1,360,871,868.05.
- Nigerian Breweries Plc registered 37,207,563 shares worth N2,102,474,554.70.
- Tantalizers Plc traded 36,303,143 shares valued at N90,973,453.21.
- Zenith Bank Plc posted 27,696,352 shares, with a total value of N1,343,212,669.15.
Naira gains against dollar to new exchange rate
Earlier, Legit.ng reported that the Nigerian currency has recovered against the United States dollar in the official foreign exchange market after three days of losses.
According to data from the Central Bank of Nigeria, the naira closed at N1,587/$1 on Thursday, May 29, 2025.
Thursday's exchange rate represents a slight appreciation of N5 or 0.31% from the previous day’s closing rate of N1,592/$1.
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Source: Legit.ng
