The Nigerian Exchange Ltd. (NGX) on Thursday, May 16, 2024 posted a first week gain with the market capitalisation rebounding by N467 billion, amid renewed interests by investors.
Specifically, the market capitalisation which opened at N55,058 trillion, gained N467 billion or 0.84 per cent, to close at N55,525 trillion.
The All-Share Index also advanced by 813.3 points or 0.84 per cent to close at 98,156.71, in contrast to 97,343.42 recorded on Wednesday.
Investors improved buy interest in the stocks of Airtel, Nigerian Breweries, Fidelity Bank and some insurance companies drove the market to a positive terrain.
Consequently, the Year-To-Date (YTD) return rose to 31.27 per cent.
However, the market breadth closed negative with 24 declined equities outnumbering 15 advanced ones.
On the losers’ table, Eterna led by 9.89 per cent to close at N12.30, FCMB trailed by 8.28 per cent to close at N6.65 per share.
Omatek dropped 6.94 per cent to close at 67k, Unity Bank lost 5.88 per cent to close at N1.60 and FBN Holdings lost 5.36 per cent to close at N22.95 per share.
Conversely, Guinea Insurance and Royal Exchange Assurance led the gainers’ table by 10 per cent each to close at 33k and 55k per share respectively.
Airtel Africa gained 8.97 per cent to close at N2,150 and International Energy Insurance rose by 7.84 per cent to close at N1.65 and Prestige Assurance added 5.88 per cent to close at 54k per share.
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Analysis of the market activity showed that trade turnover settled 24.95 per cent higher than the previous session.
A total of 409.77 million shares valued at N8.93 billion were exchanged in 7,296 deals, compared to 355.55 million shares valued at N7.14 billion traded in 7,333 deals recorded on Wednesday.
Custodian led the activity chart in volume with115.53 million shares valued at N1.38 billion, Nigeria Breweries followed 83.75 million shares worth N1.93 billion to lead the value chart.
United Bank of Africa (UBA) traded 26.06 million shares valued at N560.54 million, Access Corporation traded 24.18 million shares worth N409.80 million.
Guaranty Trust Holding Company (GTCO) transacted 22.93 million shares valued at N946.86 million.
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