NGX All-Share Index sustains bullish run, up 3.93% - Market Update 16 January 2024


The domestic stock market maintained the bull run as the benchmark index closed 3.93% stronger to settle at 87,971.10 points.

Sustained buy interests in industrial heavyweights namely, DANGCEM (+9.84%), BUACEM (+9.96%) alongside ZENITHBANK (+2.92%) drove the market strong performance, offsetting selloffs in UCAP (-1.57%), MANSARD (-1.39%) and CUSTODIAN (-2.04%).

As a result, the year-to-date (YTD) return rose to 17.65%, while market capitalization gained ₦1.82trn to close at ₦48.14trn.


Analysis of today's market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 42.94%.

A total of 1.07bn shares valued at ₦15.77bn were exchanged in 14,505 deals. JAIZBANK (+9.94%) led the volume chart with 150.64m units traded while  NASCON (+10.00%)  led the value chart with deals worth ₦2.57bn.


Market breadth closed positive at a 6.70-to-1 ratio with advancing issues outnumbering the declining ones. DANGSUGAR (+10.00%) topped sixty-six (66) others on the leader’s table while ROYALEX (-8.16%) led nine (9) others on the laggard's log.

Find below key highlights of market activities.



Change (%)


All-Share Index




Market Cap. (₦ 'trillion)




Volume (millions)




Value (₦ 'billion)




Source: Coronation Registrars

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