The Nigerian stock market commenced trading in 2024 on a positive note, with the NGX All-Share Index advancing by 1.63% and closing at 75,990.88 basis points. This marked an improvement from the last trading day of 2023, which closed at 74,773.77 basis points. The NGX Market CAP also saw a gain of N665.98 billion, and the NGX ASI year-to-date return stands at 1.63%.
Key Points:
- The NGX All-Share Index gained 1.63%, closing at 75,990.88 basis points.
- NGX Market CAP recorded a gain of N665.98 billion.
- Total volume traded increased by 39.93%, closing at N515.81 million, valued at N5.57 billion, and traded in 9,370 deals.
- The market recorded 49 gainers, 17 losers, and 53 unchanged stocks.
- Top 3 gainers: AIICO Insurance (10.00%), DAAR Communication (10.00%), and Ikeja Hotel (10.00%).
- Top 3 losers: Cadbury Nigeria (-10.00%), Mecure Industries (-10.00%), and Thomas Wyatt Nigeria (-10.00%).
Additionally, the NGX announced the results of its half-year market index review for various indices. There were entries and exits from several indices, with changes effective from the opening of the market on January 2, 2024. Notable changes include new entrants to the NGX Banking Index: FBN Holdings, FCMB Group, Guaranty Trust Holding Company, and Stanbic IBTC Holdings, while Jaiz Bank, Union Bank Nigeria, Unity Bank, and Wema Bank exited the index. MTN Nigeria Communications, Vitafoam Nigeria, Stanbic IBTC Holdings, and NPF Microfinance Bank were new entrants into the Afrinvest Div Yield Index.
The positive start to the year reflects investor optimism in the Nigerian stock market, with notable gains and increased trading activity.
