As the stock market closed for the first quarter (Q1) on Friday, March 31, the All Share Index (ASI) of Nigerian Exchange Limited (NGX) returned 5.81percent for investors, consolidating gains made from the previous year.
Within the period, the ASI rose from 51,251.06 points to 54,232.54 points. Market capitalisation of listed companies also closed higher at N2.54trillion.
NGX also recorded N318.52billion of listings within the first quarter of the year across its asset class categories, as revealed by the Exchange’s X-Compliance Report.
Despite the uncertainties posed by the general elections of February 25 and March 18, the market has expressed optimism about the economic direction of the country, hence the pricing up of shares of listed companies.
Read also: Stock market dips by 1.20% in week ended March 31
At the end of trading on the floor of NGX on Friday, Investors exchanged 557.3 million shares valued at N3.68bn in 3,943 deals, compared to the previous day’s tally of 73.54 million worth N4.23billion in 3,718 deals. In total, the market had done N265.48billion in value from 18.04billion shares in 232,632 deals.
The top ten gainers at the end of the week were Oando Plc, whose stock rose by 34.12percent on the back of earnings announcement and acquisition plans; Ikeja Hotel Plc (18.45percent); Champion Breweries Plc (13.27percent); Royal Exchange Plc (13.04percent); UPDC Plc (11.46percent); Consolidated Hallmark Insurance Plc (9.68percent); Northern Nigeria Flour Mills Plc (8.64percent); Sunu Assurance Plc (8.33percent); Linkage Assurance Plc (7.50percent); and Sterling Bank Plc (6.67percent).
The major decliners were Prestige Assurance Plc (-11.11percent); NCR Nigeria Plc (-9.79percent); CWG Plc (-9.38percent); Dangote Sugar Refinery Plc (-7.10percent); United Capital Plc (-6.67percent); Dangote Cement Plc (-6.25percent); CAP Plc (-5.79percent); Airtel Africa Plc (-4.50percent); Seplat Energy Plc (-4.17percent); and Chams Holding Company Plc (-4percent).
