The NGX kicked off the month of May on a bullish note with the All-Share Index appreciating by 0.55%, gaining 537.15 points to close at 98,762.78 points.
Investors gained N300 billion as market capitalization closed at N55.85 trillion, up from N55.55 trillion recorded on April 30th, 2024.
Coming off a month where the market declined by 6.06% and equities lost N3.57 trillion in market capitalization, the positive sentiment in today’s market can be seen as a breath of fresh air.
The trend in today’s market is linked to the overall positive performance of banking stocks, with GTCO gaining 7.03%, FBNH adding 1.10%, and Access Holding gaining 3.86%.
The leading gainers today were PRESCO and Flour Mills of Nigeria, which gained 10%, followed by Sterling Holdco and Dangote Sugar which gained 9.98% and 9.90% respectively.
Recommended reading: Shareholders approve NGX’s proposed N10 billion capital raise
Market Indices
NGX All Share Index: 98762.78 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
% YTD: +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
JAIZBANK: +9.74% to close at N2.14
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
CHAMS: -7.45% to close at N1.74
Top Traded Stocks
In trading volume, ABBEYBDS led with 362.8 million units, followed by ACCESSCORP (+3.86%) with 54.47 million units, Veritas Capital Insurance (+6.78%) with 38.75 million units, Nigerian Breweries (+0.59%) with 31.21 million units, and TRANSCORP (+4.29%) with 26.62 million units.
In terms of value, Access Holdings topped with N954.62 million, followed by ABBEYBDS with N907.05 million, Nigerian Breweries with N802.4 million, Zenith Bank with N518.1 million, and TRANSCORP with N377.4 million.
SWOOT and FUGAZ Update
Stocks worth over one trillion (SWOOT) recorded a slightly positive trading day, as GTCO (+7.03%) and ZENITHBANK (+2.02%) posted gains. However, other members of the category such as BUA Cement, BUA Foods, Dangote Cement, Seplat Energy, MTN Nigeria, Airtel Africa, Transcorp Power, and Geregu Power recorded no price changes.
Members of FUGAZ (First Bank, UBA, GTB, Access and Zenith) category posted a positive showing as FBN Holdings, UBA, and Access Holdings posted 1.10%, 4.6%, and 3.86% gains respectively.
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