• Business - Market Data
  • Updated: January 19, 2024

NGX's bullish streak continues, All-Share Index up 2.04 per cent, market cap hits N50 trillion

NGX's bullish streak continues, All-Share Index up 2.04 per

The Nigerian Exchange Group (NGX) has maintained its upward trend for the sixth trading day in a row, a rare performance.

The All-Share Index (ASI) rose 2.04% to 91,896.97 points, a considerable increase from yesterday's 90,063.25 points.

Top gainers in the oil and gas sector: Conoil and Eterna lead with 10% gain.

Stocks in the oil and gas industry rose significantly, with Conoil Plc and Eterna Plc leading the way with 10% increases, closing at N112.20 and N20.90 respectively.

MRS also showed a commendable growth of 9.57%. Furthermore, heavyweight stocks Dangote Cement and BUA Cement maintained their positive trend, rising 8.27% and 8.96%, respectively, to close at N489.90 and N135.00.

Historic Market Cap Milestone: N50 Trillion Mark Crossed.

In a historic development, the equities market capitalization surpassed N50 trillion, rising N2.151 trillion to settle at N50.290 trillion. This represents a significant 4.47% increase over the previous day's N48.139 trillion.

Increase in Trading Volume and Value: Positive Momentum Continues

Trading volume increased by 7% to 1.14 billion units, up from 1.067 billion units the day before. The corresponding traded value increased by 22.3%, reaching N19.29 billion from N15.77 billion the day before.

Top Performers and Laggards: CONOIL, ETERNA, and Others.

The top gainers for the day were CONOIL (+10.00%), ETERNA (+10.00%), NEM (+10.00%), UNITYBNK (+10.00%), JOHNHOLT (+10.00%), and PZ (+9.96%).

On the downside, the biggest losers were IKEJAHOTEL (-9.79%), ROYALEX (-9.78%), MBENEFIT (-9.57%), LINKASSURE (-9.40%), JAPAULGOLD (-9.33%), and NSLTECH (-8.86%).

Sector Overview: SWOOT Group and Banking Stocks.

Members of the SWOOT group had mixed trading opinions. Banking stocks closed lower for the second day in a row. DANGCEM (+8.27%), BUACEMENT (+8.96%), and MTNN (+0.03%) saw increases, while ACCESSCORP (-0.34%), GTCO (-2.15%), ZENITHBANK (-1.99%), and UBA (-4.62%) saw price declines.

Other SWOOT members, including AIRTELAFRI, BUAFOODS, SEPLAT, TRANSCOHOT, and GEREGU, reported no pricing adjustments. FBNH, the sole non-SWOOT tier-1 bank, experienced a 2.53% drop.

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