Yesterday, the equity segment of the Nigerian Exchange Limited ( NGX ) maintained its upward trend with an increase of ₦1.05 trillion due to robust investor enthusiasm for Ecobank Transnational Incorporated Plc (which surged by 10 percent) along with another 41 major stocks.
The All Share Index (ASI) increased by 1,662.60 points, marking a rise of 1.56 percent to finish at 108,361.10 points for the month. The Month-to-Date and Year-to-Date performances stood at +2.6 percent and +5.3 percent, respectively.
Additionally, the market capitalization increased by N1.05 trillion, closing at N68.105 trillion.
The market sentiment stayed positive, as 42 stocks advanced compared to 25 that declined. Shares of Ecobank Transnational Incorporated (ETI), Northern Nigeria Flour Mills (NNFM), and Nestlé Nigeria all surged by 10 percent each, closing at N25.85, N82.50, and N1,210.00 per share respectively.
Beta Glass increased by 9.98 percent to finish trading at ₦132.80, whereas Austin Laz & Company rose by 9.94 percent to end at ₦1.88 per share.
Conversely, Guinea Insurance topped the list of decliners with an 8.70 percent drop, closing at 63 kobo per share. This was followed by DAar Communications, which fell by 6.78 percent to close at 55 kobo, while VFD Group decreased by 6.59 percent to finish at N17.00 per share.
Wapic Insurance dropped by 6.07 percent to finish at N2.01, whereas Regency Alliance Insurance fell by 4.69 percent to close at 61 kobo per share.
Additionally, the overall trading volume decreased by 16.45 percent to reach 475.459 million units, amounting to N13.899 billion across 17,575 transactions. The highest activity was recorded in Access Holdings’ stocks, which saw 103.915 million shares traded, totaling N2.202 billion. Following closely was Guaranty Trust Holding Company (GTCO), with 37.985 million shares worth N2.423 billion, while United Bank for Africa (UBA) had 30.731 million shares transacted, equating to N1.039 billion.
Sterling Financial Holdings Company exchanged 27.177 million shares amounting to N147.244 million, whereas Enith Bank disposed of 26.184 million shares totaling N1.235 billion.
Regarding the market outlook, Afrinvest Limited stated, “We anticipate that the local stock exchange will continue to see increases, fueled by investors reappraising potential based on the mostly strong Q1 2025 financial results.”
Provided by Syndigate Media Inc. (
Syndigate.info
).
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