Stock market records N151bn gain

The Nigerian Exchange Limited (NGX) closed on a positive note on Friday, May 2, 2025, as the stock market gained N151 billion, driven by strong investor interest in select equities.

The market capitalisation rose by N151 billion or 0.23 per cent to close at N66.647 trillion, up from N66.496 trillion recorded on Wednesday.

The All-Share Index (ASI) also appreciated by 241.72 points or 0.23 per cent to close at N106,042.57, compared to 105,800.85 in the previous session.

The rally was largely supported by buying interest in stocks such as Access Corporation, United Bank for Africa, and CHAMS Holding Plc, among others.

However, the market breadth closed negatively with 41 losers and 29 gainers.

On the losers’ chart, FG132036S2 declined by 20 per cent, closing at N20.00, while DAAR Communications fell by 10 per cent, to close at 54k per share.

Vitafoam dropped by 9.94 per cent, to close at N47.55, and Multiverse shed by 9.93 per cent, settling at N6 35 per share.

Similarly, Eterna lost by 9.91 per cent, to close at N45.00 per share.

On the gainers’ chart, Cadbury Nigeria increased by 10 per cent, to finish at N31 90, while the Nigerian Aviation Handling Company also soared by 10 per cent, to close at N82.50 per share.

Naira depreciates to N1,602/$ at official market

The Initiates Plc rose by 10 per cent, ending the session at N4.95, and Beta Glass grew by 9.96 per cent, closing at N109.80 per share.

Caverton Offshore Support Group also gained by 9.92 per cent, to close at N2.66 per share.

A total of 573.33 million shares worth N15.254 billion were traded across 18,554.

This is in contrast with 392.99 million shares worth N12.755 billion exchanged across 17,519 transactions earlier.

Transactions in the shares of Access Corporation topped the activity chart with 52.82 million shares worth N1.157 billion.

CHAMS Holding Plc followed with 51.56 million shares valued at N108.86 million, while the United Bank for Africa (UBA) sold 35.98 billion shares worth N1.26 billion.

First City Monument Bank traded 34.52 million shares valued at N314.64 million, and Guaranty Trust Holding Company transacted 31.86 million shares worth N2.05 billion.

The Star