The Nigerian equities market began the week on a positive note on Monday, as the first trading session of May closed with a gain of N62 billion.

The uptrend was driven by renewed buying interest in energy, consumer and industrial stocks. Stocks such as FTN Cocoa Processors, Consolidated Hallmark, CAP, AIICO, Dangote Sugar, alongside 38 other gainers, lifted overall market performance.

Market capitalisation rose by N62 billion, or 0.36 per cent, to N156.056 trillion from N155.994 trillion.

Similarly, the All-Share Index advanced by 881.16 points, or 0.36 per cent, closing at 243,158.97 compared to 242,277.81 recorded in the previous session. Consequently, the year-to-date return improved to 56.26 per cent, while 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. Similarly, CAP followed by 9.99 per cent, closing at N159.70, and AIICO Insurance gained by 9.98 per cent, finishing at N4.74. Dangote Sugar climbed by 9.97 per cent, ending the session at N76.65 per share.

Conversely, 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 during the session, as total traded volume dropped by 48.30 per cent 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, accounting for 19.20 per cent of the day’s turnover. 

(NAN)