In a remarkable finish to the trading week, the NGX All-Share Index (ASI) surged by 2.87%, marking a substantial gain of 2,641.15 points to settle at an impressive 94,538.12 points on the last trading day.
SWOOTs (Seplat, BUA Cement) dominated the trading landscape, each posting a remarkable 10% gain, while Dangote Cement closely followed with a gain of 9.98%. This robust performance contributed to equities gaining a substantial N1.445 trillion, propelling the market cap to a new height of N51.735 trillion, up from the previous day’s N50.29 trillion.
The NGX witnessed one of its most substantial weekly gains, boasting a 13.8% appreciation over the week. This outstanding performance has significantly bolstered the year-to-date returns of the NGX, now standing at an impressive 26.4%.
Despite the notable surge in index points, there was a 25.9% decrease in trading volume, totaling 844.49 million units, down from the previous day’s 1.14 billion units. Additionally, trading value experienced a 22% decline, settling at N15.04 billion compared to the previous day’s N19.29 billion.
Market Indices Overview:
- NGX All-Share Index: 94,538.15 points
- % Day Change: +2.87%
- Day’s Lowest: 91,793.80 points
- Day’s Highest: 94,538.12 points
- % YTD: +26.43%
- Market Cap: N51.74 trillion
- Volume Traded: 844.49 million units
- Value Traded: N15.04 billion
Top Gainers:
- SEPLAT: +10.00% to close at N2,541.00
- BUACEMENT: +10.00% to close at N148.50
- MAYBAKER: +9.99% to close at N8.26
- DANGCEM: +9.98% to close at N538.80
- HONYFLOUR: +9.96% to close at N5.85
- JOHNHOLT: +9.88% to close at N2.78
Top Losers:
- LASACO: -9.85% to close at N2.47
- CILEASING: -9.82% to close at N3.95
- MBENEFIT: -9.41% to close at N0.77
- NAHCO: -9.38% to close at N33.80
- PZ: -9.31% to close at N33.55
- SOVRENINS: -9.09% to close at N0.60
Top Traded Stocks:
By Volume
- TRANSCORP (-2.86%) – 80.32 million units
- VERITASKAP (+2.67%) – 80.07 million units
- FIDELITYBK (-0.77%) – 60.55 million units
- JAIZBANK (-1.43%) – 36.32 million units
- UBA (-0.16%) – 34.86 million units
By Value
- ZENITHBANK (+1.58%) – N1.55 billion
- TRANSCORP (-2.86%) – N1.52 billion
- UBA (-0.16%) – N1.08 billion
- WAPCO (+2.17%) – N876.4 million
- BUACEMENT (+10.00%) – N854.2 million
- For stocks valued at over N1 trillion, the sentiment was overwhelmingly positive, with BUACEMENT (+10.00%), SEPLAT (+10.00%), DANGCEM (+9.98%), ZENITHBANK (+1.58%), MTNN (+0.69%), and ACCESSCORP (+1.69%) all recording gains. However, GTCO (-3.08%) and UBA (-0.16%) saw declines.
AIRTELAFRI, BUAFOODS, TRANSCOHOT, and GEREGU showed no significant price changes.
Notably, FBNH, the only non-SWOOT tier-1 bank, continued its decline, registering a 1.3% decrease, contributing to an overall 5% decline for the week.
By: Montel Kamau
Serrari Financial Analyst
22nd January, 2024
