By Bamidele Famoofo
WorldStage— The Nigerian equities market remains the most profitable for investors globally as year to date return climbs to 57.35 percent on Wednesday after it dropped from the 60 percent threshold last week.
The market closed positive, with the benchmark All-Share Index (ASI) advancing by 6 basis points .
Market activity, however, was subdued, as trading volume declined by 3.59 percent to 1.22 billion shares, while the total value of transactions fell by 32.89 percent to ₦38.93 billion.
Despite the positive market performance, market breadth remained negative, with 38 decliners outweighing 32 gainers, indicating that losses were more widespread across the market.
Sectoral performance was Mixed. The banking sector dominated trading activity, accounting for the largest share of volume traded. Meanwhile, the consumer goods sector emerged as the market’s best-performing segment.
On the gainers’ chart, LIVESTOCK and DEAPCAP led the pack, recording the strongest price appreciation during the session. Conversely, NEIMETH and INTENEGINS posted the steepest declines, topping the losers’ table.
At the currency market, the naira strengthened against the U.S. dollar, with the USD/NGN exchange rate declining by 10bps to close at ₦1,362.00/$.
Meanwhile, Nigeria’s external reserves sustained their upward momentum, rising by a further 16bps to $50.11 billion as of 5 June 2026, reflecting continued foreign exchange inflows and reserve accretion.
In the commodities market, Brent crude oil advanced by 4.2 percent to settle at $93.94 per barrel, supported by heightened geopolitical tensions in the Middle East and a larger-than-expected decline in U.S. crude inventories, which reinforced concerns over tightening global oil supplies.
