The Nigerian Exchange Limited (NGX) closed the trading week ended Friday, May 16, 2025, on a positive note as the All-Share Index (ASI) rose by 0.90 percent to settle at 109,710.37 points, up from 108,730.05 points recorded in the previous week.
Similarly, the market capitalisation appreciated to N68.953 trillion to reflect renewed investor interest across key sectors.
Market breadth remained moderately positive with 61 equities appreciating in price, although this figure declined from 68 in the prior week.
Conversely, 31 equities recorded price declines while 56 equities remained unchanged, compared to 52 in the previous session.
All sectoral indices posted gains with the exception of the NGX Premium Index and NGX Lotus II Index, which dipped by 0.05 percent and 0.92 percent, respectively.
The broader market’s uptick was supported by improved sentiment in large-cap stocks and continued participation in key financial counters.
A total equity of 2.606 billion shares worth N63.785 billion was exchanged in 77,593 deals. This reflects a marginal decline when compared to the 2.645 billion shares valued at N77.005 billion traded the previous week in 86,110 deals.
The lower turnover was attributed to cautious positioning by investors ahead of key economic data releases.
The Financial Services sector led the activity chart by volume with 1.540 billion shares worth N28.963 billion traded in 32,805 deals.
This accounted for 59.08 percent and 45.41 percent of the total volume and value traded, respectively.
The Services sector followed with 286.833 million shares valued at N1.711 billion in 6,280 deals, while the Consumer Goods sector recorded 202.565 million shares worth N7.439 billion in 9,708 deals.
Top traded equities by volume were FCMB Group Plc, Access Holdings Plc and Tantalizer Plc, which collectively accounted for 600.684 million shares valued at N6.570 billion in 7,201 deals.
This trio contributed 23.05 percent and 10.30 percent to the overall equity turnover volume and value, respectively.
The week’s performance was buoyed by sustained buying pressure in fundamentally sound stocks, even as macroeconomic uncertainties persist.
Analysts expect cautious optimism to prevail in the near term as investors continue to monitor corporate earnings, monetary policy direction, and global market developments.
