The Nigerian stock market started the week on a positive note, as the All-Share Index (ASI) of the local equities gained 26 basis points to close at 97,863.34 points. Renewed demand for Tier-1 banking stocks: GTCO (+1.21%), Zenith Bank (+2.50%) and FBN Holdings (+3.18%) bolstered the market’s strong performance. As a result, the ASI year-to-date (YTD) return rose to 30.88%, with the market capitalisation increasing by ₦141.89 billion to close at ₦55.36 trillion.
Trade turnover settled lower relative to the previous session, with the value of transactions down by 62.27%. A total of 366.98m shares valued at ₦5.94 billion were exchanged in 8,031 deals. Access Holdings (+3.35%) led the volume and value chart with 176.23m units traded in 602 deals worth ₦2.99bn.
Market breadth closed negative at a 0.71-to-1 ratio with declining issues outnumbering advancing ones. Computer Warehouse Group (-10.00%) topped twenty (20) others on the laggard’s table, while John Holt (+9.60%) led fourteen (14) others on the leader’s table.
Highlight of market activities (27/05/24)
Indicators Current Change (%) YTD
All-Share Index 97863.34 +0.26 +30.88
Market Cap. (₦ ‘trillion) 55.36 +0.26 +35.30
Volume (millions) 366.98 -52.28
Value (₦ ‘billion) 5.94 -62.27
