NGX All-Share Index sustains gains, up 238bps - Market Wrap 17 January 2024

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The Nigeria stock market sustained gains bringing the benchmark index up 2.38% to settle at 90,063.27 points.

 

Sustained buy interests in industrial heavyweights namely, DANGCEM (+9.86%), BUACEM (+9.99%) alongside GEREGU (+9.94%) kept the market strong in the green, outweighing selloffs in ZENITHBANK (-1.42%), GTCO (-1.80%) and DANGSUGAR (-9.95%).

 

As a result, the year-to-date (YTD) return rose to 20.45%, while market capitalization gained ₦1.14trn to close at ₦49.28trn.

 

Analysis of today's market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 3.89%.

 

A total of 1.30bn shares valued at ₦16.38bn were exchanged in 17,471 deals. STERLINGNG (-9.09%) led the volume chart with 106.14m units traded while  NB (+1.82%)  led the value chart with deals worth ₦2.02bn.

 

Market breadth closed positive at a 1.26-to-1 ratio with advancing issues outnumbering the declining ones. GUINNESS (+10.00%) topped forty-three (43) others on the leader’s table while RTBRISCOE (-10.00%) led thirty-four (34) others on the laggard's log.

Find below key highlights of market activities.

Indicators

Current     

Change (%)

YTD

All-Share Index

90,063.27

+2.38

+20.45

Market Cap. (₦ 'trillion)

49.28

+2.38

+20.45

Volume (millions)

1,298.22

+21.69

 

Value (₦ 'billion)

16.38

+3.89

 

 Source: Coronation Registrars

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