Best performing Nigerian stocks for the week ended August 14

Nigeria's equities market suffered its bleakest week since the June market correction, with the All Share Index dropping 1.20% week-over-week. The market's value plummeted by N3.8 trillion over just four days, erasing earlier gains that had pushed the index to a record high of 248.529.75 points on August 10. Trans-Nationwide Express delivered the week's strongest performance, surging 32.09% to close at N2.84 from N2.15.

International Energy Insurance and Sovereign Trust Insurance also made notable gains, climbing 31.68% and 13.77%, respectively. In contrast, losses were concentrated in stocks like MTNN, which fell 4.73%, and BUAFOODS, which dropped 10.00%. The NGX All-Share Index declined 1.20% to 242,619.20 points, its lowest level in over a year.

The Consumer Goods Index, however, remained the weakest performer year-to-date, up just 1.57%. Despite the week's sharp correction, most indices remained positive on a year-to-date basis, with Oil & Gas and Industrial Goods leading the sectoral gains.