The Nigerian Stock Exchange (NGX) saw a positive rebound after the Easter break, with a significant gain of N318 billion in market capitalization. The market ended the session with a total market value of N65.8 trillion, marking a 0.49% increase from the previous trading day. Year-to-date, the All-Share Index has gained 1.77%, but there was a slight dip of 0.16% over the last four weeks.
Despite a 6% decrease in trading volume and a 9% fall in turnover, the market experienced a notable rise in the number of deals, which surged by 23%. A total of 353 million shares worth N7.2 billion were traded across 13,734 deals. International Breweries led the gainers with a 10% rise in its share price, followed closely by Nigerian Breweries, which saw a 9.94% increase.
On the downside, International Energy Insurance suffered the largest loss, falling by 9.46%. Other stocks that recorded losses included Secure Electronic Technology, University Press, and FTN Cocoa Processors. Despite the losses, the market showed resilience with sector-specific gains. The Consumer Goods Index surged by 2.57%, while the Banking Index and Insurance Index rose by 0.71% and 2.16%, respectively.
The most actively traded stocks included Access Holdings, Fidelity Bank, Chams, and Universal Insurance Company. Investors are still weighing ongoing earnings reports and dividend announcements, following a mixed sentiment that led to a previous loss of N207 billion in market value before the break. The market’s positive performance post-holiday is seen as a promising sign for future trading sessions.
Source: Punch