Lagos:The Nigerian stock market stormed into May with a powerful ₦62bn rally on its very first trading day, signalling investor confidence and fresh momentum.
This positive movement was primarily due to renewed buying interest in energy, consumer, and industrial stocks such as FTN Cocoa Processors, Consolidated Hallmark, CAP, AIICO, and Dangote Sugar, which were among the 38 other gainers. These stocks lifted the overall market performance.
Market capitalisation rose by N62 billion, or 0.36 per cent, to N156.056 trillion from N155.994 trillion.
The All-Share Index advanced by 881.16 points, or 0.36 per cent. It closed at 243,158.97, up from 242,277.81 in the previous session.
Year-to-Date (YTD) return improved to 56.26 per cent. Market breadth remained positive, with 43 gainers against 34 losers.
FTN Cocoa Processors and Consolidated Hallmark led the gainers’ chart by 10 per cent each, settling at N6.05 and N5.72 per share, respectively.
CAP followed by 9.99 per cent, closing at N159.70. AIICO Insurance gained 9.98 per cent, finishing at N4.74.
Dangote Sugar also climbed by 9.97 per cent, ending the session at N76.65 per share.ely, Nigerian Aviation Handling Company led the losers’ chart by 23 per cent, closing at N198.65.
International Energy Insurance trailed by 9.82 per cent, finishing at N2.48, and UPDC lost by 9.18 per cent, settling at N4.45 per share.
Also, Learn Africa dipped by 9.14 per cent, ending the session at N8.45, while Nem Insurance shed by 8.02 per cent, closing at N28.10 per share.
Market activity declined, with total traded volume down 48.30 per cent. It fell to 967.47 million shares, valued at N43.84 billion, across 122,041 deals.
VFD Group led in volume with 255.35 million shares, accounting for 26.39 per cent of total trades.
Zenith Bank recorded the highest transaction value at N8.42 billion. This accounted for 19.20 per cent of the day’s turnover.
