Resuming from the Workers’ Day holiday, the stock market, on Thursday, May 2, 2024, maintained a bull run as the All-Share index increased by N303 billion, to close at 98,762.78.
The figure was in contrast to 98,225.63 posted on Tuesday, April 30.
The market capitalisation, which opened at N55.553 trillion, gained N303 billion or 0.55 per cent, to close at N55.856 trillion.
The year-to-date (YTD) return also rose to 32.08 per cent.
Sustained interest in Tier-one banking stocks such as United Bank for Africa (UBA), Zenith Bank, Guaranty Trust Holding Company (GTCO), FBN Holdings, as well as Presco Plc, Julius Berger, and Flour Mill, among others, contributed to the positive performance of the market.
Meanwhile, the market breadth closed positive with 29 advanced equities outnumbering 14 declined ones on the floor of the exchange.
Investors lose N9bn at stock market
On the gainers table, Flour Mill and Presco led by 10 per cent each to close at N33.55 and 229.9 per share, respectively, followed closely by Sterling Nigeria with 9.98 per cent to close at N4.74 per share.
Dangote Sugar rose by 9.90 per cent to close at N42.75 and FIDSON Healthcare Plc gained 9.76 per cent to close at N15.75 per share.
On the other side, National Salt Company of Nigeria (NASCON) led the losers’ table by 9.99 per cent to close at N47.30, while UPL trailed closely by 9.29 per cent to close at N2.05 per share.
Omatek Venture declined by 9.21 per cent to close at 69k, Neimeth International Pharmaceuticals shed 9.09 per cent to close at N1.80, and Cutix dropped 7.74 per cent to close at N2.86 per share.
Analysis of the market activities, however, showed trade turnover settled lower relative to the previous session, with the value of transactions down by 62.86 per cent.
A total of 665.20 million shares valued at N5.54 billion were exchanged in 8,446 deals, as against 552.21 million shares valued at N14.92 billion, exchanged in 9,350 deals.
Abbey Mortgage Bank led the activity table in volume with 362.82 million shares valued at N907.05 million, followed by Access Corporation with 54.47 million shares worth N954.62 million, to lead by value.
Veritas Kapital transacted 38.75 million shares valued at N23.06 million, Nigeria Breweries sold 31.21 million shares worth N802.43, and Transnational Corporation traded 26.62 worth N377.39.
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