May 04, (THEWILL) — Trading on the Nigerian Exchange (NGX) commenced the week on a modestly positive note as bargain hunting in select equities lifted the market benchmark.
At the start of the trading session on Monday, the market capitalisation opened at ₦155.994 trillion and edged higher to close at ₦156.056 trillion, reflecting a gain of ₦62 billion.
Similarly, the NGX All-Share Index (ASI) advanced from 242,277.81 points at the opening of trade to 243,158.97 points at the close of the session, indicating sustained investor interest in select stocks.
Market breadth for the session closed positive, with 43 gainers outpacing 34 losers, signalling improved buying sentiment across several sectors.
Top Gainers
Leading the gainers’ chart was
FTN Cocoa Processors Plc, which appreciated by 10.00 percent, (rising from ₦5.50 to ₦6.05 per share).
It was followed by Consolidated Hallmark Holdings Plc, which also gained 10.00 percent, (advancing from ₦5.20 to ₦5.72).
Chemical and Allied Products Plc climbed 9.99 percent, (moving from ₦145.20 to ₦159.70).
AIICO Insurance Plc rose 9.98 percent (from ₦4.31 to ₦4.74).
Dangote Sugar Refinery Plc completed the top five gainers list with a 9.97 percent increase, (advancing from ₦69.70 to ₦76.65).
On the losers’ table,
NAHCO Plc led with a sharp 23.00 percent decline, (dropping from ₦258.00 to ₦198.65).
International Energy Insurance Plc shed 9.82 percent, (falling from ₦2.75 to ₦2.48).
UPDC Plc declined 9.18 percent (from ₦4.90 to ₦4.45).
Learn Africa Plc lost 9.14 percent, (easing from ₦9.30 to ₦8.45).
NEM Insurance Plc dipped 8.02 percent, (closing at ₦28.10 from ₦30.55).
Meanwhile, several equities closed flat during the session, including MTN Nigeria Communications Plc, Dangote Cement Plc, Seplat Energy Plc, Julius Berger Nigeria Plc, Golden Guinea Breweries Plc, and Nestlé Nigeria Plc.
Overall, the market’s positive start to the week reflects selective buying by investors, particularly in consumer goods and insurance counters, as market participants position ahead of anticipated corporate earnings releases and broader macroeconomic signals.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
