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  • Business - Market Data
  • Updated: January 24, 2024

NGX approaches 100,000 mark with robust gains

NGX approaches 100,000 mark with robust gains

The NGX All-Share Index is on the verge of crossing the 100,000 mark, closing Tuesday's trading session at 98,616.97 points.

The 2.97% increase, or 2,848.85 points from Monday's close, reflects the market's upward momentum.

Equities Surge:
Dangote Cement led the charge, extending its bullish run with a 9.99% increase. BUA Cement and Seplat Energy both posted 10% gains. The overall market capitalization increased by N1.559 trillion to N53.967 trillion, up significantly from N52.408 trillion on Monday.

Dynamic Trading Sessions:
Trading activity remained active, with a marginal 3.56% increase in volume to 747.51 million units and a significant 12.95% rise in value to N16.28 billion. This reflects both active investor participation and the monetary value of transactions completed during the session.

Stock performance: 
SEPLAT, BUACEMENT, DANGCEM, ETERNA, MEYER, and TRIPPLEG were among the top gainers for the day, contributing to positive market sentiment. However, there were top losers, including PZ, MAYBAKER, JOHNHOLT, TIP, DEAPCAP, and MBENEFIT, which all experienced a -10.00% decrease in value.

Stock Highlights: 
SEPLAT closed at N2795.10 (+10.00%), BUACEMENT at N163.35 (+10.00%), and DANGCEM at N651.80 (+9.99%). PZ fell to N31.50 (-10.00%), MAYBAKER to N7.38 (-10.00%), and JOHNHOLT to N2.70 (-10.00%).

TRANSCORP (-9.99%) led in volume with 77.71 million units, followed by STERLINGNG (-2.58%) with 72.31 million units, UBA (-3.07%) with 52.70 million units, ACCESSCORP (-1.54%) with 47.17 million units, and ZENITHBANK (-4.43%) with 32.03 million units.

DANGCEM (+9.99%) and UBA (-3.07%) led in value with N3.11 billion and N1.58 billion, respectively, while ACCESSCORP (-1.54%), ZENITHBANK (-4.43%), and TRANSCORP (-9.99%) followed closely behind.

Mixed sentiment towards high-value stocks: 
Trading sentiment for stocks worth more than N1 trillion was mixed, with BUACEMENT (+10.00%), DANGCEM (+9.99%), SEPLAT (+10.00%), BUAFOODS (+7.25%), and MTNN (+1.34%) all showing gains. ACCESSCORP (-1.54%), UBA (-3.07%), GTCO (-3.51%), and ZENITHBANK (-4.43%) all suffered losses, while AIRTELAFRI, GEREGU, and TRANSCOHOT remained unchanged.

Bearish Trend for FBNH Continues:
FBNH continues its bearish trend with a 2.82% price decline, contributing to the day's market dynamics. The market's overall performance demonstrates its resilience, offering investors a variety of opportunities and challenges in an ever-changing financial landscape.

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