Stock market closes May positive, gains N17bn

Closing the month of May, the stock market of the Nigerian Exchange Limited (NGX) on Wednesday ended mixed with a bullish tilt as the overall market capitalization gained N17 billion.

The All-Share Index rose by 30.93 per cent or 0.06 per cent, to close at 55,769.28 basis points. Similarly, the overall market capitalisation value gained N17 billion to close at N30.367 trillion.

However, market breadth was negative, as 30 stocks gained relative to 39 losers.

McNichols, Veritas Kapital Assurance and Jaiz Bank recorded the highest price gain of 10 per cent each to close at 77 kobo, 22 kobo and N1.21 per share respectively.

Conoil followed with a gain of 9.96 per cent to close at N57.95 and MRS Oil Nigeria went up by 9.93 per cent to close at N44.85 per share.

On the other hand, NASCON Allied Industries led the losers’ chart by 9.79 per cent to close at N15.20 per share. R&T Briscoe followed with a decline of 9.76 per cent to close at 37 kobo, while GlaxoSmithKline Consumer Nigeria lost 9.58 per cent to close at N7.55 per share. 

Caverton Offshore Support Group declined by 9.35 per cent to close at N1.26, while DEAP Capital Management & Trust shed 9.09 per cent to close at 20 kobo per share.

The total volume traded decreased by 38.65 per cent to 661.509 million units, valued at N18.998 billion, and exchanged in 10,024 deals.

Transactions in the shares of Access Holdings topped the activity chart with 98.731 million shares valued at N1.195 billion. United Bank for Africa (UBA) followed with 90.199 million shares worth N891.591 million, while Zenith Bank traded 44.535 million shares valued at N1,263 billion.

Guaranty Trust Holding Company (GTCO) traded 39.6 million shares valued at N1.129 billion, while Sterling Bank transacted 34.181 million shares worth N69.126 million.