SAT MAY 03 2025-theGBJournal| Nigerian Stocks rose on Friday as investors digested a better-than-expected raft of Q1-25 earnings results, which steadied nerves and lifted the All-Share Index for its biggest winning streak in weeks.
The NGX All-Share Index (NGXASI) posted a +1.41% WTD gain to settle at 106,042.57 points, rebounding from midweek losses and reflecting renewed investor optimism following the Workers’ Day holiday.
Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX MERI Value, NGX Oil & Gas, NGX Lotus II, NGX Sovereign Bond and NGX Commodity Indices, which depreciated by 0.38%, 2.89%, 0.04%, 2.08%, 2.90%, 0.01%, 0.19% and 1.12% respectively.
This recovery, marked by a N151.91 billion increase in market capitalization to N66.65 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 N2.05 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 as well, 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.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
