Nigerian Markets Update - Monday, January 15th, 2024

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NGX Continues Bull Run.

On the NGX, the first trading day of the week witnessed strong positive action. All major indices, including the NGX All-Share Index, NGX Premium Board Index, and the NGX Growth Board Index finished the day in positive territory, gaining +1.92%, +2.96%, and +0.42% respectively.

The market capitalisation of the exchange also increased to N46.319 trillion from last Friday’s N45.199 trillion, putting N1.118 trillion in investor's pockets yesterday alone.

 

NGX also saw history yesterday as Transcorp Hotels Plc. (TRANSCOHOT) climbed +7.24% to close at N100, breaching the N1 trillion market cap barrier and becoming the first hospitality company to join the exclusive "SWOOT" ranks.

 

Sectoral Performance:

In the trading session, all sector indices experienced positive price movements. The best performance came from the NGX Insurance Index, increasing by +7.23%, driven by notable gains in MANSARD (+10.00%), UNIVINSURE (+8.11%), and AIICO (+2.40%).

Insurance firms have maintained an upward trend throughout the new year, contributing to a cumulative gain of over +35% in the insurance index.

This impressive performance may be attributed to the collaborative efforts of the Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Insurance Commission (NAICOM).

These regulatory bodies have announced their intentions to review and implement the insurance services regulations jointly issued in June 2022 to encourage Nigerian oil and gas companies to patronise local insurance providers.

 

Following closely, the NGX Industrial Index and NGX Consumer Goods Index secured second and third places, recording gains of +4.40% and +1.78%, respectively.

 

Major Indices

Index

Last Close 

1-Day Change

NGX All Share Index

84,640.89

+1.92%

NGX Growth Board Index 

6,117.12

+0.42%

 NGX Premium Board Index

8,202.26

+2.96%

NGX Oil and Gas Index

1,057.86

+0.08%

NGX Banking Index

1,053.58

+1.30%

NGX Consumer Goods Index

1,305.85

+1.78%

NGX Insurance Index

423.52

+7.23%

NGX Pension Index

3,770.11

+1.44%

NGX Industrial Index

3,073.90

+4.40%

   

Top Gainers

Nigerian stocks that increased the most in price in the last trading day.

Company 

Ticker

Last Close 

 Volume

1-Day Change

Chams Plc. 

CHAMS

₦2.53

17.536M

+10.00%

Daar Communications Plc.

DAARCOMM

₦0.99

1.817M

+10.00%

Axa Mansard Insurance Plc.

MANSARD

₦6.49

14.985M

+10.00%

PZ Cussons Plc.

PZ

₦32.45

226.154K

+10.00%

Sovereign Trust Insurance Plc. 

SOVRENINS

₦0.66

3.931M

+10.00%

   

Volume Giants

Nigerian stocks that saw the highest number of shares traded in the last trading day.

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