The Nigerian Exchange Limited (NGX) began May with a positive trend, as the All-Share Index rose by 0.55%, gaining 537.15 points to close at 98,762.78 points. This resulted in investors gaining N300 billion, with market capitalization closing at N55.85 trillion, up from N55.55 trillion at the end of April 30th, 2024.
After a month of decline where the market lost 6.06% and equities shed N3.57 trillion in market capitalization, the positive sentiment in today’s market was welcomed by investors. The upbeat mood was largely attributed to the strong performance of banking stocks, with GTCO rising by 7.03%, FBNH adding 1.10%, and Access Holding gaining 3.86%.
Leading gainers for the day were PRESCO and Flour Mills of Nigeria, which each gained 10%, followed by Sterling Holdco and Dangote Sugar with gains of 9.98% and 9.90% respectively. In terms of trading volume, ABBEYBDS led with 362.8 million units, while Access Holdings topped the value chart with N954.62 million traded.
