Nigerian Stock Exchange Closes Q1 2024 With N158 Billion

Local stocks at the Nigerian Stock Exchange closed for the week's final trading session, also known as Q1 2024, with a gain of N158 billion in market capitalisation following share price appreciation in Julius Berger Nigeria Plc and 38 others.

The NGX All-Share Index (ASI) rose by 278.42 points, representing a gain of 0.27%, to close at 104,562.06 points. Market capitalisation gained N158 billion to close at N59.121 trillion.

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Yesterday's positive was driven by price appreciation in large and medium-capitalised stocks: Julius Berger Nigeria, PZ Cussons Nigeria, MTN Nigeria Communications (MTNN), Nigerian Breweries, and Lafarge Africa.

As measured by market breadth, market sentiment closed positive, as 39 stocks gained relative to 16 losers. 

Top Gainers: Morison Industries led the chart with a 10% gain to close at N1.76 per share. Ikeja Hotel followed with a 9.91% gain to close at N6.43, while Julius Berger advanced by 9.73% to close at N66.00 per share. Omatek Ventures appreciated by 9.72% to close at 79 kobo, while UPDC Real Estate Investment Trust rose by 9.57% to close at N5.15 per share.

Top Losers: FTN Cocoa Processors led the chart with a 9.60% decline to close at N1.60 per share. Associated Bus Company followed with a 9.41% decline to close at 77 kobo, while Guinea Insurance shed 7.89% to close at 35 kobo per share. Nigerian Exchange Group followed with 6.75% to close at N21.40, while Chams Holding Company depreciated by 6.34% to close at N1.92 per share.

Also, the total volume traded increased by 24.69% to 623.075 million units, valued at N16.955 billion, and exchanged in 10,257 deals.

Transactions in Zenith Bank's shares led the activity, with 88.355 million shares worth N3.887 billion. Guaranty Trust Holding Company (GTCO) followed with an account of 78.676 million shares valued at N4.115 billion, while Access Holdings traded 56.743 million shares valued at N1.392 billion.

United Bank for Africa traded 54.938 million shares worth N1.539 billion, while Fidelity Bank traded 50.780 million shares worth N504.234 million.

Back Story
Investors at the Nigerian Stock Exchange closed Wednesday with a positive move. The market recovered from the previous trading day, when market capitalisation was down by N107 billion due to investors' interest activities.

The NGX All-Share Index rose by 331.17%, representing a gain of 0.32%, to close at 104,283.64 points. While the overall market capitalisation value gained N187 billion to close at N58.963 trillion.

The positive outcome in market performance was driven by price appreciation in large and medium-capitalised stocks: Zenith Bank, Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, United Capital, and United Bank for Africa (UBA).