NGX begins trading in 2024 on bullish trend as ASI gains 1.63 per cent

The Nigeria Exchange Limited commenced the new year on a bullish note as the All-Share Index smashed the 75,000 mark.

The All-Share Index gained 1.63 per cent, appreciating 1,217.11 points to close at 75,990.88 points.

On the first trading day of the year, equities gained N663 billion as the market capitalization closed at N41.583 trillion.

There was an appreciation in trading volume to 515.807 million units from 368.629 million units recorded in the previous trading session. In terms of value, there was a depreciation of N5.57 billion from the previous N12.82 billion.

Accordingly, top Gainers are AIICO, +10.00 per cent to close at N0.88, LINKASSURE, +10.00 per cent to close at N0.88, SUNUASSUR: +10.00% to close at N1.21, DAARCOMM, +10.00 per cent to close at N0.99, IKEJAHOTEL, +10.00 per cent to close at N6.60, INFINITY, +10.00 per cent to close at N6.60.

Conversely, top Losers, CADBURY, -10.00 per cent to close at N17.10, THOMASWY, -10.00 per cent to close at N2.43, MECURE, -10.00 per cent to close at N10.80, PRESTIGE, -9.80 per cent to close at N0.46, CONHALLPLC: -9.52 per cent to close at N1.33 and OMATEK, -9.21 per cent to close at N0.69.

Regarding Top Traded Stocks in terms of volume, MBENEFIT (-5.66 per cent) led with 101.63 million units, followed by TRANSCORP (+9.93 per cent) with 46.65 million units, UNITYBANK (+9.88 per cent) with 35.22 million units, JAIZBANK (+0.52 per cent) with 26.99 million units, and UBA (+1.36 per cent) with 20.07 million units.

In terms of value, AIRTELAFRI (+5.99 per cent) led with N741.78 million, followed by GTCO (-0.99 per cent) with N601.93 million, UBA (+1.36 per cent) with N513.85 million, TRANSCORP (+9.93 per cent) with N440.67 million, and ZENITHBANK (+0.91 per cent) with N427.62 million.

At the end of Tuesday, trading was quite positive for stocks worth over N1 trillion as AIRTELAFRI (+5.99 per cent), BUACEMENT (+5.15 per cent), and ZENITHBANK (+0.91 per cent) made gains, while GTCO (-0.99 per cent) recorded price decline. Other category members (BUAFOODS, DANGCEM, MTNN, and SEPLAT) recorded no price changes.

Tier-1 banks recorded a positive trading day as FBNH (+0.42 per cent), UBA (+1.36 per cent), ACCESSCORP (+1.73 per cent), and ZENITHBANK (+0.91 per cent) recorded price gains, while GTCO recorded a price decline.