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 concluded the trading week on a positive note, with investors witnessing strong gains across various indices.

Data from the Nigerian Exchange Limited (NGX) revealed that the NGX All-Share Index (ASI) and Market Capitalisation appreciated by 0.90%, closing at 109,710.37 points and N68.953 trillion, respectively as of Friday, May 16.

Among the key highlights for the week, all indices recorded gains except for the NGX Premium and NGX Lotus II Indices, which experienced slight declines of 0.05% and 0.92%, respectively.

In terms of equity performance, 61 stocks saw price appreciation during the review period, a decrease from the 68 equities that gained in the previous week.

Conversely, 31 equities recorded price depreciations, up from 28 in the preceding week, while 56 equities remained unchanged, compared to 52 in the previous week, BusinessDay reports.

Market turnover stood at 2.606 billion shares valued at N63.785 billion, traded in 77,593 deals. This marked a decrease from the previous week's turnover of 2.645 billion shares worth N77.005 billion exchanged in 86,110 deals.

The Financial Services sector led the trading activity by volume, with 1.540 billion shares valued at N28.963 billion traded in 32,805 deals.

This accounted for 59.08% of the total equity turnover volume and 45.41% of the total equity turnover value.

The Services industry followed behind, which traded 286.833 million shares worth N1.711 billion in 6,280 deals.

The Consumer Goods sector recorded a turnover of 202.565 million shares valued at N7.439 billion in 9,708 deals.

The top three traded equities by volume were FCMB Group Plc, Access Holdings Plc, and Tantalizer Plc, accounting for 600.684 million shares worth N6.570 billion in 7,201 deals.

These transactions contributed 23.05% and 10.30% to the total equity turnover volume and value, respectively.

Overall, the week's positive performance reflects investor optimism and resilience in the Nigerian stock market despite economic conditions.

Earlier, Legit.ng reported that Fidelity Bank has climbed the ranks of 19 Nigerian companies with a N1 trillion market capitalisation.

The bank attained the new status on Wednesday, May 14, 2025, when its share price surged by 5.3% from N19.95 to N21.00.

Experts say the upward trend positions Fidelity Bank to meet the new N500 billion capitalisation target set by the Central Bank of Nigeria (CBN).

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Source: Legit.ng