Equities investors gain N152bn as NGX index rises 0.27%
BY TEMITOPE ADEBAYO
The Nigerian Exchange (NGX) closed the first trading week of May on a positive note, with investors gaining N151.91 billion following renewed bargain hunting and positive sentiment around Q1 2025 earnings releases. The All-Share Index (ASI) rose 0.27 per cent week-on-week to settle at 106,042.57 points, while market capitalisation climbed to N66.65 trillion.
The modest rebound reversed earlier losses from the shortened trading week, with key buy-side interest in NAHCO, CADBURY, PRESCO, and other mid- to large-cap stocks providing lift to the broader market.
Trading activity strengthened as the total traded volume rose by 43.84 per cent to 565.30 million units, while the value of transactions increased by 17.24 per cent to N14.96 billion, spread across 18,367 deals.
ACCESSCORP dominated the volume chart with 9.24 per cent of total trades, followed by CHAMS (9.02%), UBA (6.29%), FCMB (6.04%), and GTCO (5.57%). GTCO led the value chart, contributing 14.83 per cent of total market turnover.
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On the gainers’ table, NAHCO, TIP, and CADBURY topped the chart with 10.00 per cent weekly gains apiece. Other notable advancers included BETAGLASS (+9.96%), CAVERTON (+9.92%), and UPL (+9.89%).
However, market breadth closed negative, with 39 losers against 29 gainers. DAARCOMM led the laggards, dropping by 10.00 per cent, followed by VITAFOAM (-9.94%), ETERNA (-9.91%), and MANSARD (-8.78%).
Sector performance was broadly mixed. The Insurance sector posted the steepest weekly loss at -3.50%, followed by Banking (-1.49%) and Oil & Gas (-0.17%). Meanwhile, Consumer Goods gained 2.03%, and Industrial Goods added 0.08%.
Market sentiment remained cautious but mildly optimistic, buoyed by earnings results and selective value hunting. Analysts expect continued volatility as macroeconomic factors and company fundamentals guide investor positioning in the coming weeks.
