NGX trading volume increased by 55.72

…Beta Glass, Caverton, NNFM, led 10 best-performing stocks in May

IN the last concluded month, the Nigerian equities market recorded robust gains as rising share prices and higher trading volumes across most listed companies pushed the market to new highs.

Trading activity intensified as monthly volume surged 55.72 percent, rising to 12.6 billion shares from 8.2 billion in April.

The surge in both price and volume was largely fueled by sustained momentum in large- and mid-cap stocks, whose significant market weighting contributed to the index’s upward movement.

Tracked by the All-Share Index (ASI), the market broke through the 110,000-point threshold for the first time ever, closing the month at 111,742.01.

This closing figure marked a 5.62 percent increase from the opening level of 105,920.18, making May the strongest-performing month of the year so far.

Within the broader market rally, some stocks posted stronger performances, likely driven by investor response to positive earnings results and other encouraging developments

Tracking the top 10 performers for the month of May, Beta Glass Plc led having posted a remarkable return of 133.0 per cent in share value.

Shares of the company opened the month at N99.85 and closed at N232.65, remaining well in the green despite a mild 10 percent decline in the final week of the month.

The rally followed its Q1 2025 results, where the company reported a pre-tax profit of N15.2 billion, up 638.6 per cent.

Revenue also soared to N41.1 billion, a 69.34 percent increase, driven by strong demand for glassware and bottle products.

Northern Nigeria Flour Mills was the second-best performer in May with a return of 85.2 per cent, closing at N138.90.

The stock opened the month at N75.00 and surged above N130.00, trading 12.3 million shares in the process.

Most of the gains came during the week beginning 11th May, likely due to renewed investor interest in the consumer goods sector.

Caverton secured the third position with a 73.6 percent gain in May. Starting the month at N2.66, it rode a trading volume of 129.46 million shares to reach N4.20.

The rally was likely driven by the release of its Q1 2025 results on April 30, which showed a pre-tax profit of N1.6 billion, compared to a loss of N1.8 billion in Q1 2024.

Academy Press ranked as the 4th best-performing stock in May, delivering a 65.5 percent return. Its share price rose from N2.87 to N4.75, with 31 million shares traded during the month.

This rally followed the release of its Q3 financial results for the period ended 31st March, which showed a pre-tax profit of N1.2 billion, up 429.97 per cent year-on-year.

Red Star Express Plc ranked 5th with a 64.8 per cent monthly return. The stock moved from N5.05 to N8.32, with 4.4 million shares traded.

Most of the gain occurred in the final week of May as the stock broke through the N7.00 resistance level and ended the month above N8.00.

Red Star also recorded five consecutive weeks of positive closes after bouncing back from a retracement below N6.00 earlier in the month.

Honeywell Flour Mills came in 6th with a 61.5 percent gain for the month. The stock rose from an opening of N13.00 to N21.00, with a robust volume of 122.3 million shares traded.

University Press is the 7th best-performing stock in May with a return of 57.8 percent. Shares of the company opened the month at N3.74 and powered to N5.90, with a trading volume of 25.4 million shares.

Champion Breweries placed 8th with a 44.7 percent month-to-date return as the stock rose from N4.70 to N6.80, trading 80.1 million shares during the month.

Nestlé Nigeria Plc ranked 9th with a 44.6 percent gain in May, having started the month at N1,100 per share and moved higher on a total volume of 2.4 million shares, closing May in positive territory.

ABC Transport Plc secured the 10th spot with a month-to-date gain of 43.2 percent in May. The stock opened the month at N2.06 and closed at N2.95, supported by a trading volume of 28.5 million shares.

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