Stock market capitalisation gains N259bn

The stock market capitalisation, on Thursday, May 30, 2024, gained N259 billion or 0.46 per cent to close at N56.158 trillion, having opened at N55.899 trillion

The domestic bourse maintained a positive trend as the value of transactions on the Nigerian Exchange Limited (NGX) advanced by 14.04 per cent.

Investors traded a total of 309.71 million shares valued at N5.44 billion exchanged in 7,035 deals, in contrast to 518.95 million shares valued at N4.77 billion, in 7,781 deals exchanged on Wednesday.

The All-Share Index also rose by 0.46 per cent or 458 points to close at 99,276.03 points, as against 98,818.04 recorded in the previous session.

Consequently, the Year-To-Date (YTD) return rose to 32.77 per cent.

Sustained buy interest in Guaranty Trust Holding Company (GTCO), Zenith Bank, and FBN Holding, alongside Seplat, CAP Plc, Eterna, among other advanced equities, propelled the market’s positive performance.

Banks boost stock market capitalisation with N246bn

Market breadth also closed positive with 32 gainers and 12 losers.

Leading the gainers’ table were International Energy Insurance and Seplat Energy Plc by 10 per cent each to close at N1.54 and N3,410 per share, respectively.

Eterna Plc followed closely by 9.87 per cent to close at N12.25, Consolidated Hallmark Holdings gained 9.84 per cent to close at N1.34, and Japaul Gold rose by 9.73 per cent to close at N2.03 per share.

On the flip side, Cornerstone Insurance led the losers’ table by 8.81 per cent to close at N1.76, International Breweries trailed by 8.75 per cent to close at N3.65 per share.

Prestige lost 8.47 per cent to close at 54k, Universal Insurance declined by 5.71 per cent to close at 33k, and Sterling Nigeria shed 4.05 per cent to close at N4.03 per share.

Access Corporation led the activity chart in volume with 51.78 million shares valued at 890.33 million.

Zenith followed with 39.23 million shares worth N1.31 billion to lead the chart in value, Universal Insurance sold 21.19 million shares valued at N7.28 million.

FCMB transacted 20.89 million shares worth N161.98 million and Fidelity Bank traded 19.12 million shares worth N187.29 million.

The Star