Stock Market Records First Gain in 5 Days As Investors Loss Over N500bn in One Week
- The Nigerian stock market closed the week on Friday with the first gain in consecutive trading days of losses
- The latest depreciation pushed the total loss recorded within the week to N500 billion, as market sentiment remained weak
- Friday's loss was led by Red Star Express, Learn Africa, E-Tranzact International, and Wapic Insurance
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 Friday, March 21, 2025, with a total loss of N532 billion in one week.
On Friday, the market recorded the only gain during the week after four consecutive days of negative trading.
Source: Getty Images
Weekly stock performance
Analysis of data from the Nigerian exchange showed that the market sustained sell pressure and kept activities at the local bourse subdued.
The stock market decreased by 0.94% in the review trading week, while this month the market has decreased by 2.65%.
A year-to-date return also moderated to +1.98% as of Friday, March 21.
Industrial, banking, insurance, oil & gas stocks were mostly sold while consumer goods stocks were mildly in demand at the NGX.
Here is a snapshot of market performance on Friday
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation which started the week at 105,955.13 points and N66.351 trillion respectively closed at 104,962.96 points and N65.819trillion.
Top Losers
- Red Star Express Plc declined by N0.53 (-9.91%), dropping from N5.35 to N4.82.
- Learn Africa Plc lost N0.33 (-9.85%), falling from N3.35 to N3.02.
- eTranzact International Plc dropped N0.50 (-9.43%), from N5.30 to N4.80.
- Wapic Insurance Plc decreased by N0.23 (-9.39%), moving from N2.45 to N2.22.
- Ikeja Hotel Plc lost N1.00 (-9.35%), declining from N10.70 to N9.70.
Top gainers
- Linkage Assurance Plc led with a 10.00% increase, rising from N1.30 to N1.43.
- Livestock Feeds Plc gained N0.76 (9.93%), climbing from N7.65 to N8.41.
- Mutual Benefits Assurance Plc added N0.06 (9.84%), moving from N0.61 to N0.67.
- United Bank for Africa (UBA) Plc rose by N2.00 (5.75%), from N34.80 to N36.80.
- Oando Plc gained N2.70 (5.59%), increasing from N48.30 to N51.00.
Traded Stocks (by volume and value)
- Fidelity Bank Plc recorded the highest volume, trading 62.27 million shares, valued at N1.06 billion.
- Access Holdings Plc followed, with 38.33 million shares exchanged, worth N843.68 million.
- Tantalizers Plc saw 31.99 million shares traded, amounting to N99.18 million.
- Veritas Kapital Assurance Plc traded 31.42 million shares, valued at N38.41 million.
- Zenith Bank Plc had 22.67 million shares exchanged, worth N1.06 billion.
MTN raises new N42.2 billion through commercial papers
Earlier, Legit.ng reported that MTN Nigeria Communications Plc has issued commercial papers (CPs) to generate about N42.2 billion in additional debt capital.
Through the offering of series 15 and 16 commercial papers, MTN Nigeria is raising N42.20 billion as part of its N250 billion commercial paper issuance program.
The 180-day and 270-day CPs were issued at yields of 27.50% and 29.00%, respectively, according to a regulatory filing.
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Source: Legit.ng
