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  • Business - Market Data
  • Updated: January 23, 2024

NGX continues bullish bun, All-Share Index hits new high

NGX continues bullish bun, All-Share Index hits new high

The Nigerian Exchange (NGX) continued its bullish trend on Monday, with the market rising 1.31%.

The All-Share Index reached a new high of 95,768.12 points, up 1,230 points from last Friday's close of 94,538.12 points.

Dangote Cement surpasses the N10 trillion mark:
Dangote Cement extended its bullish streak from the previous week, gaining 9.99% and surpassing the remarkable N10 trillion market capitalization milestone.

Market Cap and Stock Growth:
Equities gained N673 billion as market capitalization increased by 1.31% to N52.408 trillion, up from N51.735 trillion last week.

Trade Activity:
Trading volume fell 14.5% to 721.81 million units, compared to 844.49 million last Friday. Similarly, trading value fell 4.2% to N14.41 billion, from N15.04 billion.

Market Indices and Year-to-Date Performance:
The NGX All-Share Index fluctuated throughout the day, moving from a low of 94,538.12 points to a high of 96,307.46. The market's year-to-date (YTD) performance remains positive, at +28.08%.

The Top Gainers and Losers:
The top gainers for the day were SUNUASSUR, DANGCEM, TRIPPLEG, ETERNA, CUTIX, and UNILEVER.

FLOURMILL, CADBURY, UPL, MCNICHOLS, SOVRENINS, and JAIZBANK were among the worst-performing stocks.

Volume and value leaders:
TRANSCORP led in volume with 66.52 million units, while NESTLE dominated in value with N1.97 billion.

Stocks worth more than N1 trillion:
DANGCEM gained 9.99%, becoming the first Nigerian company to surpass the N10 trillion market capitalization threshold. Other heavyweights, such as UBA, ZENITHBANK, ACCESSCORP, and MTNN, saw price declines.

Mixed Sentiment for N1 Trillion Stocks:
DANGCEM outperformed other stocks worth over N1 trillion, with impressive gains. However, UBA, ZENITHBANK, ACCESSCORP, and MTNN all saw price declines. Other major players in this category, including GTCO, BUAFOODS, BUACEMENT, GEREGU, TRANSCOHOT, AIRTELAFRI, and SEPLAT, did not experience significant price changes.

FBNH Share Price Decline:
FBNH's share price fell by 0.19%, continuing a downward trend that began the previous week.

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