NGX ASI returns 5.81% In Q1 2023, turnover hits N265.48bn

As the market closed for the quarter on Friday, the All Share Index of the Nigerian Exchange Limited returned 5.81per cent for investors, consolidating gains made from the previous year.

Within the period, the ASI rose from 51,251.06 basis points to 54,232.54 basis points.

Market capitalisation of listed companies also closed higher at N2.54trillion.

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.

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 N4.23bn in 3,718 deals. In total, the market had done N265.48billion in value from 18.04 billion shares in 232,632 deals.

The top ten gainers at the end of the week were Oando Plc, whose stock rose by 34.12 per cent on the back of earnings announcement and acquisition plans; Ikeja Hotel Plc (18.45 per cent); Champion Breweries Plc (13.27 per cent); Royal Exchange Plc (13.04 per cent); UPDC Plc (11.46 per cent); Consolidated Hallmark Insurance Plc (9.68 per cent); Northern Nigeria Flour Mills Plc (8.64 per cent); Sunu Assurance Plc (8.33 per cent); Linkage Assurance Plc (7.50 per cent); and Sterling Bank Plc (6.67 per cent).

The major decliners were Prestige Assurance Plc (-11.11 per cent); NCR Nigeria Plc (-9.79 per cent); CWG Plc (-9.38 per cent); Dangote Sugar Refinery Plc (-7.10 per cent); United Capital Plc (-6.67 per cent); Dangote Cement Plc (-6.25%); CAP Plc (-5.79 per cent); Airtel Africa Plc (-4.50 per cent); Seplat Energy Plc (-4.17 per cent); and Chams Holding Company Plc (-4.00%).

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.