The Nigerian Exchange (NGX) market witnessed notable activity on May 30, 2024, with significant movements across various indices and sectors.
Here’s a detailed breakdown of the day’s performance.
Market Performance Overview
The NGX market demonstrated a robust performance, highlighted by substantial gains in several key sectors.
The overall market capitalization reached an impressive N56.16 trillion, while the All Share Index (ASI) closed at 99,276.03 points.
Major Gainers
Several stocks stood out as major gainers, reflecting strong investor confidence and positive market sentiment:
- SEPLAT (Seplat Energy Plc): Led the gainers with a 10.00% increase, closing at N3,410.00 per share.
- INTENEGINS (International Energy Insurance Plc): Followed closely with a 9.92% rise, closing at N1.33 per share.
- CHELLARAMS (Chellarams Plc): Saw a 9.87% increase, ending the day at N1.67 per share.
- JOHNHOLT (John Holt Plc): Gained 9.60%, closing at N2.17 per share.
- ABCTRANS (ABC Transport Plc): Rose by 9.59%, closing at N1.94 per share.
Major Losers
Conversely, some stocks experienced declines, reflecting market corrections and adjustments:
- SUNUASSUR (Sunu Assurances Nigeria Plc): Led the losers with a 6.90% drop, closing at N1.21 per share.
- HONYFLOUR (Honeywell Flour Mill Plc): Decreased by 5.56%, ending at N3.74 per share.
- RTBRISCOE (RT Briscoe Plc): Fell by 4.80%, closing at N1.19 per share.
- FTNCOCOA (FTN Cocoa Processors Plc): Declined by 4.76%, closing at N1.20 per share.
- TRIPPLEG (Tripple Gee and Company Plc): Dropped by 4.30%, ending at N1.78 per share.
Sector-wise Performance
Premium Board Securities
Financial Services:
- Banking: United Bank for Africa Plc and Zenith Bank Plc were the top performers, with Zenith Bank closing at N33.00 per share, up by 1.54%.
- Other Financial Institutions: Access Holdings Plc and FBN Holdings Plc showed positive movements, with FBN Holdings closing at N23.45 per share, a 1.52% increase.
ICT:
- Telecommunications: MTN Nigeria Communications Plc remained stable, closing at N230.50 per share.
Industrial Goods:
- Building Materials: Dangote Cement Plc and Lafarge Africa Plc were key players, with Lafarge closing at N33.80 per share.
Oil and Gas:
- Exploration and Production: Seplat Energy Plc’s impressive 10.00% gain underscored the sector’s strength.
Main Board Securities
Agriculture:
- Crop Production: FTN Cocoa Processors Plc saw a notable 4.35% increase, closing at N1.20 per share.
Conglomerates:
- Diversified Industries: Transnational Corporation Plc experienced a 1.28% decline, closing at N11.60 per share.
Construction/Real Estate:
- Infrastructure/Heavy Construction: Julius Berger Nigeria Plc remained steady, closing at N85.00 per share.
Corporate Debt Securities
The corporate debt market also saw activity, with key bonds such as Access Bank Plc’s 18.00% February 2026 bond and Dangote Cement Plc’s 12.50% April 2025 bond showing stability.
Exchange Traded Funds (ETFs)
The ETF market recorded trades across equity-based, fixed income, and commodity ETFs, with a total volume of 12,400 units traded.
Summary of Market Performance
- Equity Market:
- Market Cap: N56.16 trillion
- Total Volume Traded: 548.32 million
- Total Value Traded: N6.73 billion
- Debt Market:
- Market Cap: N19.35 billion
- Total Volume Traded: 46,930 units
- ETF Market:
- Market Cap: N2.68 billion
- Total Volume Traded: 12,400 units
