The Nigerian Exchange Limited (NGX) experienced a remarkable surge, with the All-Share Index rising by 2.38% to reach an unprecedented 90,063.25 points.
The NGX’s exceptional performance in the last few days has been nothing short of extraordinary. Between January 15 and 17, 2024, the market witnessed an impressive gain of 8.45%, and year-to-date, it has soared by a remarkable 20.45%.
This remarkable growth has solidified its status as the fastest-growing equities market globally, surpassing the Argentine Stock Market.
Despite this surge, the overall equities market cap showed no change, maintaining its position at N48.139 trillion. However, trading volume witnessed a substantial 21.65% increase, reaching 1.298 billion units, compared to the previous day’s 1.067 billion units. The trading value also experienced a slight uptick, rising by 3.9% to N16.38 billion.
The top gainers in this remarkable run include GUINNESS, WEMABANK, HONYFLOUR, SUNUASSUR, AIICO, and BUACEMENT. These stocks witnessed significant increases, with GUINNESS leading the pack with a 10% gain, closing at N71.50.
Conversely, top losers such as RTBRISCOE, DANGSUGAR, NGXGROUP, REDSTAREX, STERLINGNG, and DAARCOMM faced declines. RTBRISCOE led the losers with a 10% decrease, closing at N0.81.
In terms of volume, STERLINGNG took the lead with a 9.09% decrease but recorded the highest volume of 106.14 million units. Meanwhile, NB led in value with N2.02 billion, followed by TRANSCORP with N1.58 billion.
Analysis of SWOOT and FUGAZ updates revealed mixed trading sentiment for stocks worth over N1 trillion. BUACEMENT, BUAFOODS, DANGCEM, and GEREGU recorded price gains, while ACCESSCORP, GTCO, ZENITHBANK, and UBA faced price losses. Notably, AIRTELAFRI, MTNN, SEPLAT, and TRANSCOHOT observed no price changes.
Dangote Sugar also experienced a shift into the SWOOT territory, concluding the day with a substantial 9.95% decline and a resulting market capitalization of N890 billion. In a parallel development, FBNH saw a 5.79% decrease, slipping beneath the N1 trillion market cap threshold once more.
