| Oladimeji556: 12:02pm On May 07 |
Nigerian Exchange Limited (NGX) All Share Index (ASI) crossed the 109,000 points mark on Wednesday as the stock market maintained its earnings-induced rally.
The upward movement on Wednesday by 0.57 percent happened as impressive first-quarter (Q1) financials continued to drive buy-side activities on the Lagos Bourse.
At the close of trading on Wednesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation moved higher from preceding day’s lows of 108,361.1 points and N68.105 trillion respectively to 109,000.19 points and N68.507 trillion.
Meyer led the gainers league after rising from N8 to N8.80, adding 80kobo or 10percent. UPDC REIT moved from N6 to N6.60, up by 60kobo or 10 percent. Beta Glass advanced from N132.80 to N146.05, up by N13.25 or 9.98 percent, while The Initiates moved up from N5.53 to N6.08, adding 55kobo or 9.95percent. Also, Vitafoam advanced from N50.80 to N55.85, adding N5.05 or 9.94percent.
In their May 7 monthly equities update titled ‘April 2025 – Bearish global market; bullish local market’, the Philip Anegbe-led team of analysts at CardinalStone Research said “the local exchange is expected to maintain its positive momentum into the new month, particularly in the early weeks, driven by an earnings-induced rally”.
“Strong corporate performance is likely to sustain investor interest and further market gains. Additionally, the recent resurgence in foreign participation in the equities market presents a significant upside.
“This renewed interest signals a potential return of foreign inflows, which could enhance market liquidity and investor confidence, contributing to a more robust performance,” Lagos-based CardinalStone analysts further said.
In 17,496 deals, investors exchanged 587,472,362 shares worth N18.659billion. GTCO, Tantalizers, Fidelity Bank, Zenith Bank and Nigerian Breweries were actively traded stocks.
Ahead of Wednesday’s trading, Lagos-based Vetiva research analysts in their May 6 note said, “With the ASI now trading at a 4-month high and broad-based sector gains lifting investor sentiment, the market is likely to open cautiously positive in the next session. However, the recent rally—particularly in heavyweights —may invite some profit-taking, especially in names that have posted multi-session gains”.
https://businessday.ng/markets/article/ngx-asi-crosses-109000-points-on-earnings-induced-rally/
6 Likes 1 Share 
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| Spinflow: 5:11am On May 08 |
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3 Likes |
| free2ryhme: 5:12am On May 08 |
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1 Like |
| Nahunger(m): 5:12am On May 08 |
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| victorDanladi: 5:29am On May 08 |
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Macroeconomic indices are looking good.
Tinubu should just work more on reducing inflation,increasing people purchasing power and fight insecurity
I am very sure of the GDP rebasing is completed to reflect 2025 growth,we are still the African biggest economy.
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| Gbadugbakun(m): 5:34am On May 08 |
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Tinubu's istration only looks good on paper. In reality he's disaster.
3 Likes 1 Share |
| AntiChristian: 5:51am On May 08 |
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Jagaban bogu!
1 Like |
| Kaymaxi2222(m): 5:54am On May 08 |
Gbadugbakun:
Tinubu's istration only looks good on paper. In reality he's disaster.
Malistration right
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| Qadaffi2idiamin: 6:11am On May 08 |
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Tinubu is like the proverbial paper tiger.
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| essentialone1: 6:12am On May 08 |
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If you are not an Investor or Trader in the stock market, you have no right to comment on this topic, because you will end up speaking on what you do not really understand about.
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| zionstaar75: 6:20am On May 08 |
Gbadugbakun:
Tinubu's istration only looks good on paper. In reality he's disaster.
the information up there is not for poor idle people living on nairaland like you, it's for rich investors
3 Likes |
| nenergy(m): 7:42am On May 08 |
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How does this affect price of garri?
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| nenergy(m): 7:46am On May 08 |
essentialone1:
If you are not an Investor or Trader in the stock market, you have no right to comment on this topic, because you will end up speaking on what you do not really understand about.
Are you serious? So basically, we should comment only on topics we have direct experience in? So if I am not a soldier I cannot comment on Boko haram?
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| nenergy(m): 7:54am On May 08 |
zionstaar75:
the information up there is not for poor idle people living on nairaland like you, it's for rich investors
Because only rich people buy goods and services that Contribute to the all share index. You guys will say anything to whitewash this failed government
1 Like |
| essentialone1: 8:20am On May 08 |
nenergy:
Are you serious? So basically, we should comment only on topics we have direct experience in? So if I am not a soldier I cannot comment on Boko haram?
Someone wrote a book titled, Because I am involved.
Make of that, what you may.
1 Like |
| Konquest: 12:16pm On May 08 |
Oladimeji556:
Nigerian Exchange Limited (NGX) All Share Index (ASI) crossed the 109,000 points mark on Wednesday as the stock market maintained its earnings-induced rally.
The upward movement on Wednesday by 0.57 percent happened as impressive first-quarter (Q1) financials continued to drive buy-side activities on the Lagos Bourse.
At the close of trading on Wednesday, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation moved higher from preceding day’s lows of 108,361.1 points and N68.105 trillion respectively to 109,000.19 points and N68.507 trillion.
Meyer led the gainers league after rising from N8 to N8.80, adding 80kobo or 10percent. UPDC REIT moved from N6 to N6.60, up by 60kobo or 10 percent. Beta Glass advanced from N132.80 to N146.05, up by N13.25 or 9.98 percent, while The Initiates moved up from N5.53 to N6.08, adding 55kobo or 9.95percent. Also, Vitafoam advanced from N50.80 to N55.85, adding N5.05 or 9.94percent.
In their May 7 monthly equities update titled ‘April 2025 – Bearish global market; bullish local market’, the Philip Anegbe-led team of analysts at CardinalStone Research said “the local exchange is expected to maintain its positive momentum into the new month, particularly in the early weeks, driven by an earnings-induced rally”.
“Strong corporate performance is likely to sustain investor interest and further market gains. Additionally, the recent resurgence in foreign participation in the equities market presents a significant upside.
“This renewed interest signals a potential return of foreign inflows, which could enhance market liquidity and investor confidence, contributing to a more robust performance,” Lagos-based CardinalStone analysts further said.
In 17,496 deals, investors exchanged 587,472,362 shares worth N18.659billion. GTCO, Tantalizers, Fidelity Bank, Zenith Bank and Nigerian Breweries were actively traded stocks.
Ahead of Wednesday’s trading, Lagos-based Vetiva research analysts in their May 6 note said, “With the ASI now trading at a 4-month high and broad-based sector gains lifting investor sentiment, the market is likely to open cautiously positive in the next session. However, the recent rally—particularly in heavyweights —may invite some profit-taking, especially in names that have posted multi-session gains”.
https://businessday.ng/markets/article/ngx-asi-crosses-109000-points-on-earnings-induced-rally/
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