May 22, (THEWILL) — Nigeria’s equities market closed Friday’s trading session on a positive note as renewed buying interest in select mid-cap stocks lifted the benchmark indices higher.
At the close of trading on the Nigerian Exchange Limited, market capitalisation increased from ₦159.733 trillion at the opening of the session to ₦160.077 trillion, representing a gain of ₦344 billion.
Similarly, the NGX All-Share Index advanced from 249,175.39 points to 249,712.37 points.
The market breadth closed marginally positive with 30 gainers against 27 losers, reflecting cautious bargain hunting across selected counters.
Gainers
Leading the gainers’ chart was Alexandria Industries Plc, which appreciated by 10.00 percent, rising (from ₦9.00 to ₦9.90).
Daar Communications Plc followed with a 10.00 percent gain, (closing at ₦2.09 from ₦1.90)
R.T. Briscoe Nigeria Plc advanced by 9.93 percent (to ₦14.06 from ₦12.79).
Also among the top gainers was Learn Africa Plc, which climbed 9.79 percent (from ₦11.75 to ₦12.90).
Red Star Express Plc gained 9.56 percent (to close at ₦34.95 from ₦31.90).
Decliners
On the losers’ chart, Trans-Nationwide Express Plc led the laggards with a 9.92 percent decline, (dropping from ₦6.35 to ₦5.72).
Livestock Feeds Plc fell by 9.64 percent to close (at ₦8.90 from ₦9.85).
The Initiates Plc shed 8.65 percent (to ₦33.80 from ₦37.00).
Similarly, Ellah Lakes Plc declined by 8.64 percent (from ₦11.00 to ₦10.05).
Neimeth International Pharmaceuticals Plc lost 6.36 percent, (closing at ₦10.30 from ₦11.00).
Several heavyweight stocks closed flat during the session, including Dangote Cement Plc, Lafarge Africa Plc, UACN Plc, Julius Berger Nigeria Plc, Presco Plc, and Cadbury Nigeria Plc, among others.
Investor sentiment remained cautiously positive as bargain hunting in transport, education, and industrial stocks helped the market recover from earlier volatility.
Analysts expect mixed trading in the near term as investors continue to monitor macroeconomic developments, portfolio rebalancing activities, and opportunities in fundamentally strong counters ahead of further corporate and economic disclosures.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
