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  • Business - Market Data
  • Updated: January 17, 2024

NGX All-Share Index sets new record, soars 3.93 per cent to 87,971.10 points

NGX All-Share Index sets new record, soars 3.93 per cent to

The All-Share Index soared by 3.93% and gained 3,330.21 points in a stunning trading session at the NGX, closing at an all-time high of 87,971.10 points.

This rise set a new high and demonstrated the market's robust upward momentum. Equities saw considerable upswings, with 75 gainers outweighing 9 losers.

Top Performers and Notable Gains:
Dangote Cement stole the show with a 9.84% gain, adding to the market's spectacular performance. Dangote Sugar followed suit with a solid 10% rise, while FBN Holdings made a comeback in SWOOT territory, rising 6.73%.

Market Capitalisation and Trading Activity:
Equities, along with the All-Share Index, gained a stunning N1.82 trillion, increasing the whole market value to N48.139 trillion from N46.319 trillion yesterday. Trading volume increased 32% to 1.067 billion units, while trading value increased by 43% to N15.77 billion.

Sectoral Highlights:
Stocks in the trillion-Naira bracket performed well, with large gains recorded by DANGCEM, ACCESSCORP, BUACEMENT, FBNH, GTCO, MTNN, UBA, and ZENITHBANK.

Top Gainer and Loser:
DANGSUGAR, NASCON, NB, TRANSCORP, BERGER, and STERLINGNG were among the top gainers, all posting strong increases of more than 10%. ROYALEX, MULTIVERSE, ELLAHLAKES, CILEASING, OANDO, and CUSTODIAN were the top losers, with losses ranging from -2.04% to -9.18%.

Financial Results and Market Outlook:
The NGX All-Share Index closed at 87,971.1 points, up 3.93% from the previous day. The market fluctuated, with the low at 84,640.89 points and the high at 87,971.1 points. Year to date, the market has grown significantly, with an 18% gain.

The overall positive sentiment in Tuesday's trading session highlights the market's resiliency and investor confidence.

The increased trading activity and significant gains by important players all contribute to an optimistic prognosis for the NGX.

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