July 22, 2024

The NGX’s bullish run continued today, as the All-Share Index appreciated by 2.38% to close at 90,063.25 points, up by 2,092.88 from yesterday’s 87,970.37 points.

Between Monday, January 15 and today, January 17, the NGX has appreciated by a whopping 8.45%. And year-to-date, the market has appreciated by 20.45%, making it the fastest-growing equities market in the world, ahead of the Argentine Stock Market.

Trading sentiment was quite bearish for banking stocks as all the FUGAZ banks recorded price losses. However, this sentiment was balanced by a bullish run for big stocks such as BUA Cement and Dangote Cement which recorded 9.99% and 9.86% gains respectively.

Hence, unlike the ASI, there was no overall change in the equities market cap, as it stayed at N48.139 trillion, the same figure from yesterday.

There was a 21.65% increase in trading volume to 1.298 billion units, from yesterday’s 1.067 billion units. Concerning trading value, there was a slight 3.9% increase to N16.38 billion, from yesterday’s N15.77 billion.

Market Indices

  • NGX All-Share Index: 90,063.25 points
  • % Day Change: +2.38%
  • Day’s Lowest: 84,640.89 points
  • Day’s Highest: 87971.1 points
  • % YTD: +18%
  • Market Cap: N48.14 trillion
  • Volume Traded: 1066.84 million units
  • Value Traded: N15.77 billion

Top Gainers

  • GUINNESS: +10.00% to close at N71.50
  • WEMABANK: +10.00% to close at N11.66
  • HONYFLOUR: +10.00% to close at N4.84
  • SUNUASSUR: +10.00% to close at N1.76
  • AIICO: +10.00% to close at N1.54
  • BUACEMENT: +9.99% to close at N123.90

Top Losers

  • RTBRISCOE: -10.00% to close at N0.81
  • DANGSUGAR: -9.95% to close at N73.30
  • NGXGROUP: -9.84% to close at N22.90
  • REDSTAREX: -9.47% to close at N4.11
  • STERLINGNG: -9.09% to close at N6.90
  • DAARCOMM: -8.33% to close at N0.99

Top Traded Stocks

In terms of volume, STERLINGNG (-9.09%) led with 106.14 million units, followed by JAPAULGOLD (+8.94%) with 101.12 million units, TRANSCORP (+9.97%) with 90.47 million units, JAIZBANK (+1.37%) with 83.12 million units, and UNITYBNK (+0.67%) with 73.41 million units.

Concerning value, NB (+1.82%) led with N2.02 billion, followed by TRANSCORP (+9.97%) with N1.58 billion, ZENITHBANK (-1.42%) with N1.10 billion, ACCESSCORP (-0.67%) with N935.86 million, and STERLINGNG (-9.09%) with N800.26 million

SWOOT and FUGAZ Update

Trading sentiment was mixed for stocks worth over N1 trillion, as BUACEMENT (+9.99%), BUAFOODS (+5.49%), DANGCEM (+9.86%), and GEREGU (+9.49%) recorded price gains.

Stocks like ACCESSCORP (-0.67%), GTCO (-1.80%), ZENITHBANK (-1.42%), and UBA (-4.27%) recorded price losses. While AIRTELAFRI, MTNN, SEPLAT, and TRANSCOHOT (Transcorp Hotels) recorded no price changes.

FBNH recorded a 5.79% decline to fall below the N1 trillion market cap level once again.

A dramatic event that played out in the market today was the ascension of Dangote Sugar into the SWOOT territory. However, by the close of trading, the stock fell by 9.95% to drop to a market capitalization of N890 billion.


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