Nigeria Stock Market Rises by Over N1trn in One Week

• The stock market has ended the week with a strong performance, helping investors make over N trillion
• The market was driven by consumer goods, industrial, banking, and insurance stocks during the week
• On Friday, Neimeth International Pharmaceuticals Plc, Learn Africa Plc, and Mecure Industries Plc led the gainers’ table

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 Exchange ended the trading week on a positive note, with listed stocks gaining N1.43 trillion after 7 days of trading.

During the week, investors showed renewed interest in value stocks across most sectors. The only exception was the oil and gas sector, which experienced major profit-taking activity.

Market sentiment remained cautious throughout the week, with a mix of trading sessions.

However, increased appetite for undervalued stocks helped the market overcome sell-side pressures and close in the green.

Key performance highlights

The NGX All-Share Index (ASI) rose by 1.57%, increasing from 118,138.22 points to 119,995.76 points.

Market capitalisation grew from N74.534 trillion to N75.962 trillion. and an increase of N1.43 trillion.

Year-to-date (YtD) return climbed to 16.58%, while June-to-date performance stood at +7.39%.

Sectoral performance (week on week)

• NGX Industrial Goods Index +3.92%
• NGX Consumer Goods Index +3.73%
• NGX Insurance Index +3.67%
• NGX Banking Index +2.59%
• NGX Oil & Gas Index -2.23%

Here is a breakdown of the market snapshot for Friday, June 27

Top 5 gainers

• Neimeth International Pharmaceuticals Plc rose by N0.54 from N5.40 to N5.94 (+10.00%)
• Learn Africa Plc gained N0.46 from N4.64 to N5.10 (+9.91%)
• Mecure Industries Plc appreciated by N1.10, moving from N11.10 to N12.20 (+9.91%)
• Academy Press Plc added N0.44, climbing from N4.66 to N5.10 (+9.44%)
• Smurfit Print Nigeria Plc gained N0.05, rising from N0.55 to N0.60 (+9.09%)

Top 5 decliners

• Legendary Investments Plc dropped N0.89, falling from N8.92 to N8.03 (-9.98%)
• BUA Cement Plc declined by N10.50, from N105.90 to N95.40 (-9.92%)
• FTN Cocoa Processors Plc lost N0.36, from N3.69 to N3.33 (-9.76%)
• Oando Plc fell N5.40, decreasing from N61.90 to N56.50 (-8.72%)
• McNichols Plc shed N0.20, from N2.37 to N2.17 (-8.44%)

Top 5 trades by volume

• Japaul Gold & Ventures Plc 88,261,055 shares valued at N192.04 million
• Ellah Lakes Plc 80,038,219 shares worth N555.75 million
• Access Holdings Plc 56,016,818 shares valued at N1.25 billion
• Caverton Offshore Support Group Plc 53,983,155 shares worth N271.15 million
• Zenith Bank Plc 30,545,302 shares valued at N1.76 billion

US dollar crashes by N48

Earlier, Legit.ng reported that the value of the dollar has once crashed against the naira in both official and unofficial foreign exchange markets.

The latest exchange rate movement for the naira following the intervention from the Central Bank of Nigeria.

The naira's performance in the past few weeks has also been helped by President Trump's actions.

Source: Legit.ng