Serrari Group

The Nigerian Exchange Group (NGX) continued its bullish trend, with the All-Share Index surging by 1.57%, gaining 1,618.98 points to close at an impressive 104,421.23 points.

The market witnessed a positive breadth today, marked by 61 gainers against 12 losers. Dangote Sugar led the market’s bullish performance, experiencing a significant 7.17% gain, while banking stocks also contributed to the uptrend.

Equities gained a staggering N898 billion, resulting in the market capitalization closing at N57.16 trillion, a notable increase from the previous day’s N56.26 trillion.

Trading activity exhibited notable growth, with a 26% increase in trading volume to 943.51 million units from the previous day’s 749.13 million units. Trading value also witnessed a substantial 97% surge, reaching N23.48 billion, up from the previous day’s N12.16 billion.

Key Market Indices:

  • NGX All-Share Index: 104,421.23 points
  • % Day Change: +1.57%
  • Day’s Lowest: 102,804.77 points
  • Day’s Highest: 104,590.52 points
  • % YTD: +39.65%
  • Market Cap: N57.16 trillion
  • Volume Traded: 943.51 million units
  • Value Traded: N23.48 billion

Top Gainers:

  • TRANSCORP: +10.00% to close at N15.40
  • STERLINGNG: +10.00% to close at N6.60
  • NEIMETH: +10.00% to close at N2.09
  • PZ: +9.97% to close at N36.40
  • MEYER: +9.97% to close at N4.30
  • CADBURY: +9.89% to close at N20.00

Top Losers:

  • JOHNHOLT: -10.00% to close at N2.43
  • MORISON: -9.76% to close at N3.05
  • NEM: -8.22% to close at N0.67
  • DEAPCAP: -8.22% to close at N0.67
  • LASACO: -5.20% to close at N2.55
  • ROYALEX: -5.06% to close at N0.75

Top Traded Stocks:

  • FBNH (+9.85%): 338.84 million units
  • GTCO (+2.09%): 80.61 million units
  • TRANSCORP (+10.00%): 54.98 million units
  • UBA (+4.48%): 49.56 million units
  • ACCESSCORP (+8.22%): 38.82 million units

Concerning value, FBNH (+9.85%) led with N8.88 billion, followed by GTCO (+2.09%) with N3.34 billion, NESTLE (+0.92%) with N2.10 billion, UBA (+4.48%) with N1.42 billion, and ZENITHBANK (+2.33%) with N1.26 billion.

SWOOT and FUGAZ Update:
Trading sentiment remained positive for stocks worth over N1 trillion, with GTCO (+2.09%), ZENITHBANK (+2.33%), and MTNN (+5.45%) recording price gains. Other members of the category, including BUAFOODS, BUACEMENT, AIRTELAFRI, SEPLAT, GEREGU, and DANGCEM, showed no price changes.

Among other tier-1 banks, FBNH (+9.85%), UBA (+4.48%), and ACCESSCORP (+8.22%) reported significant price changes, contributing to the overall positive market sentiment.
By: Delino Gayweh
Serrari Financial Analyst
February 5, 2024

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