Nigerian stock market makes modest +0.23% on Friday
- The Nigerian stock market closed the week ended May 2, 2025, on a positive note, posting a +1.41% WTD gain in the NGX All-Share Index (NGXASI) to settle at 106,042.57 points, rebounding from midweek losses and reflecting renewed investor optimism following the Workers’ Day holiday. This recovery, marked by a ₦151.91 billion increase in market capitalization to ₦66.65 trillion, was supported by improved sentiment and selective buying interest across large-cap stocks. Despite two consecutive sessions of decline (Apr 29–30), the market regained momentum on May 2 with a modest +0.23% daily gain, supported by heightened activity as volume surged +45.89%, value traded rose +19.59%, and trades advanced +5.91%. However, a market breadth of 0.73 suggests that decliners still outnumbered gainers, underscoring a cautious yet resilient investor stance amid mixed sector performance.
- The rebound was underpinned by strong interest in Consumer and Industrial Goods sectors, with CADBURY and NAHCO hitting the 10% daily ceiling, complemented by advances in PRESCO and MTN Nigeria.
- Consumer Goods rose 2.03%, buoyed by INTBREW (+8.40%) and NB (+6.98%), while Industrial Goods edged up 0.08%, led by BETAGLAS (+9.96%) and BERGER (+9.80%).
- The Insurance (-3.50%) and Banking (-1.49%) sectors extended losses amid persistent sell pressure. Notable decliners included ETI (-9.72%), MANSARD (-8.78%), and ACCESSCORP (-2.67%).
- Oil & Gas (-0.17%) also weakened, weighed down by ETERNA (-9.91%) and JAPAULGOLD (-7.48%), reflecting risk-off sentiment in cyclical names
- Total market turnover stood at 573.33 million units, led by ACCESSCORP (52.81 million units) despite its price decline.
- GTCO dominated the value chart with ₦2.05 billion in trades, though its price dipped by 2.14%, highlighting cautious positioning even in high-liquidity names.
NASD SUMMARY
- NASD OTC Market Index and Capitalization rose 0.26% Day-on-Day, supported by gains in SDAFRILAND (+8.63%) and SDFCWAMCO (+4.75%), despite a sharp decline in trade value (-45.73%) and number of trades (-64.44%).
- Volume surged 175.38% to 8.49 million units, suggesting strong investor interest even as overall transaction value dropped significantly. SOURCE: Coronation Securities Limited
