NGX opens May on a positive note with N300 billion in gains for investors

Nigeria's Stock Market (NGX) Sees Sharp Increase in Foreign Portfolio Inflow in Q1 2024

The NGX began May positively, with the All-Share Index rising 0.55% to close at 98,762.78 points, a gain of 537.15 points.

The market capitalization finished at N55.85 trillion, up from N55.55 trillion on April 30, 2024, providing investors with a gain of N300 billion.

It is refreshing to see the market attitude becoming positive again after a month in which the market fell by 6.06% and stocks lost N3.57 trillion in market value.

The general upward trend in banking stocks—GTC gaining 7.03%, FBNH adding 1.10%, and Access Holding gaining 3.86%—is associated with the current market trend. 

Today’s top gainers were PRESCO and Flour Mills of Nigeria, up 10%, and Dangote Sugar and Sterling Holdco, up 9.98% and 9.90%, respectively.

Market Measures

  • 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

Leading 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

Leading 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

Most Traded Stocks

ABBEYBDS dominated the trading volume with 362.8 million units, followed by Veritas Capital Insurance (+6.78%) with 38.75 million units, ACCESSCORP (+3.86%) with 54.47 million units, Nigerian Breweries (+0.59%) with 31.21 million units, and TRANSCORP (+4.29%) with 26.62 million units for the top spot.

With N954.62 million, Access Holdings was the highest-valued company, followed by ABBEYBDS (N907.05 million), Zenith Bank (N518.1 million), Nigerian Breweries (N802.4 million), and TRANSCORP (N377.4 million).

Updates on SWOOT and FUGAZ

A modestly favorable trading day was had by stocks valued above $1 trillion (SWOOT), with gains reported by ZENITHBANK (+2.02%) and GTCO (+7.03%). Other category participants did not report any price changes, including MTN Nigeria, Airtel Africa, BUA Foods, Dangote Cement, Seplat Energy, BUA Cement, Transcorp Power, and Geregu Power.

FUGAZ members, which include First Bank, UBA, GTB, Access, and Zenith, all had successful results. Specifically, FBN Holdings, UBA, and Access Holdings reported gains of 1.10%, 4.6%, and 3.86%, respectively.

 

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