×
  • 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.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings