By Mary Onyia
The Nigerian Exchange Ltd. (NGX) closed on a positive note on Friday, May 2, 2025, as the stock market gained N151 billion, driven by strong investor interest in select equities.
Transactions in the shares of Access Corporation topped the activity chart, with 52.82 million shares valued at N1.157 billion.
CHAMS Holding Plc followed with 51.56 million shares worth N108.86 million, while United Bank for Africa traded 35.98 million shares worth N1.26 billion. First City Monument Bank saw 34.52 million shares change hands, valued at N314.64 million, and Guaranty Trust Holding Company transacted 31.86 million shares.
The market capitalization surged by N151 billion, or 0.23%, to close at N66.647 trillion, up from N66.496 trillion recorded on Wednesday.
Similarly, the All-Share Index (ASI) appreciated by 241.72 points, or 0.23%, closing at 106,042.57, compared to 105,800.85 in the previous session. The rally was largely supported by buying interest in stocks such as Access Corporation, United Bank for Africa, CHAMS Holding Plc, and others.
However, the market breadth closed negative, with 41 losers and 29 gainers. On the losers’ chart, FG132036S2 declined by 20%, closing at N20.00, while DAAR Communications dropped by 10%, closing at 54k per share. Vitafoam fell by 9.94%, closing at N47.55, and Multiverse shed 9.93%, settling at N6.35 per share. Similarly, Eterna lost 9.91%, closing at N45.00 per share.
On the gainers’ side, Cadbury Nigeria surged by 10%, finishing at N31.90, while the Nigerian Aviation Handling Company also climbed 10%, closing at N82.50 per share. Initiates Plc gained 10%, ending the session at N4.95, and Beta Glass rose by 9.96%, closing at N109.80 per share. Caverton Offshore Support Group also saw a 9.92% increase, closing at N2.66 per share.
A total of 573.33 million shares, worth N15.254 billion, were traded across 18,554 transactions. This contrasts with the previous session, where 392.99 million shares, worth N12.755 billion, changed hands across 17,519 transactions.