The Nigerian Exchange Limited (NGX) began the month of May on a bullish note, marking a significant uptick in market activity. The All-Share Index (ASI) surged by 0.55%, gaining 537.15 points to close at 98,762.78 points. This positive momentum translated into a substantial gain of N300 billion for investors, with market capitalization closing at N55.85 trillion, up from N55.55 trillion recorded on April 30th, 2024.
Following a challenging period where the market experienced a notable decline of 6.06% and witnessed equities lose N3.57 trillion in market capitalization, the current positive sentiment is a welcome development for market participants.
The robust performance of banking stocks notably contributed to the overall market optimism. Key players such as Guaranty Trust Holding Company (GTCO), First Bank of Nigeria Holdings (FBNH), and Access Holding recorded significant gains of 7.03%, 1.10%, and 3.86% respectively.
Today’s trading session saw notable gainers, including PRESCO and Flour Mills of Nigeria, both recording impressive gains of 10%. Additionally, Sterling Holdco and Dangote Sugar followed suit with gains of 9.98% and 9.90% respectively.
Here are the key market indices for today’s trading session:
– NGX All Share Index: 98,762.78 points
– Previous ASI: 98,225.63 points
– % Day Change: +0.55%
– Day’s Lowest: 98,224.53 points
– Day’s Highest: 98,763.02 points
– % Year-to-Date: +32.08%
– Market Cap: N55.85 trillion
– Volume Traded: 665.18 million units
– Value: N5.54 billion
– Deals: 8,440
Top Gainers:
– PRESCO: +10.00% to close at N229.90
– FLOURMILL: +10.00% to close at N33.55
– STERLINGNG: +9.98% to close at N4.74
– DANGSUGAR: +9.90% to close at N42.75
– FIDSON: +9.76% to close at N15.75
Top Losers:
– NASCON: -9.99% to close at N47.30
– UPL: -9.29% to close at N2.05
– OMATEK: -9.21% to close at N0.69
– NEIMETH: -9.09% to close at N1.80
– CUTIX: -7.74% to close at N2.86
Top Traded Stocks:
– ABBEYBDS: 362.8 million units
– ACCESSCORP: 54.47 million units
– Veritas Capital Insurance: 38.75 million units
– Nigerian Breweries: 31.21 million units
– TRANSCORP: 26.62 million units
The positive performance of the NGX underscores renewed investor confidence in the market, driven by gains in key sectors, particularly banking stocks. This bullish start to May sets a promising tone for the Nigerian stock market in the coming weeks.
