UBA, Access, Zenith, Nigerian Breweries lift Nigerian Stock Market
The Nigerian major stock market began the week on a high note on Tuesday after the Easter vacation,
Quick overview
- The Nigerian stock market opened the week positively, with the NGX All index closing at 104,739.61 points and a market value increase to N65.82 trillion.
- Investors earned N318 billion, contributing to a 1.76% year-to-date return, with notable gains in the Consumer goods, Insurance, Banking, and Services sectors.
- Nigerian Breweries saw a significant rise of 24% this year, driven by a pre-tax profit of N69.9 billion in Q1, rebounding from a loss in the previous year.
- The market had 42 gainers led by INTBREW, while total trading volume decreased by 5%, with Access Holdings and Zenith Bank leading in volume and value, respectively.
The Nigerian major stock market began the week on a high note on Tuesday after the Easter vacation, building on gains from the previous week. In addition to other stocks like Nigerian Breweries, UAC Nigeria, TRANSCORP, investors once again showed interest in banking stocks like UBA, Access, Zenith, GT, and Stanbic
The NGX All index closed the day higher at 104,739.61 index points. Investors earned N318 billion as the market value increased to N65.82 trillion, resulting in a 1.76% year-to-date return.
Consequently, the Consumer goods, Insurance, Banking, and Services sectors appreciated. The market breadth index was positive, with 42 gainers and 21 losers. Today’s gainers were led by INTBREW, NB PLC(+9.94%), while the top loser was INTENEGINS PLC(-9.46%).
Total volume decreased by -5% to 352 million units worth N7.19 billion. Access Holdings has the highest volume, with 38.6 million shares traded, and Zenith Bank had the highest value, N1.07 billion. The local bourse closed positively due to buying interest in the Banking, Insurance, Services, and Consumer goods sectors
Nigerian Breweries is now up 24% this year after its shares rose more than 16% month-to-date in April, topping N39.
The company recently recorded a pre-tax profit of N69.9 billion for the first quarter that ended on March due to higher revenue and lower foreign currency losses, which rebounded from a loss of N65.5 billion in the same quarter of 2024.
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