NGX-ASI approaches 100,000 points, as market capitalisation gains N1.6trn



The NGX All-Share Index (NGX-ASI) is approaching 100,000 points as the market closed higher by 2,848.85 points, ending the day with a negative market breadth.

Now at 31.89 percent, the NGX-ASI advanced by 2.97 percent, closing at 98,616.97 basis points, compared to the previous day’s gain of 1.30 percent, which closed at 95,768.12 basis points.

Meanwhile, the NGX Market CAP also recorded a gain of N1.56 trillion in Naira terms.

The All Share Index which tracks the general market movement of all listed equities on the Nigerian exchange was 55,738.35 on 30 May 2023, a day after Tinubu was sworn in. In July it rose to 65,091. By 24 December, it reached 73,768, which as Bloomberg reported on 1 November, when the ASI first crossed the 70,000 mark, was the highest on record.

As at the close of trading on Friday 19 January, the index leapfrogged to 94,538.12, more than 69 percent growth, since last May, creating yet another huge record.

Market capitalisation has also grown exponentially from N30.3 trillion recorded at the end of May 2023 to over N51.7 trillion on 19 January 2024. This means investors have gained more than N20 trillion within the past nine months.

Meanwhile, the total volume traded advanced by 3.56 percent to close at N747.51m, valued at N16.28bn and traded in 16,589 deals. TRANSCORP was the most traded stock by volume with N77.71m units traded, while DANGCEM was the most traded stock by value with N3.11bn units traded.

The Gote Index advanced by 8.54 percent to close at 355.54, while the Toni index declined by 4.20 percent to close at 667.41 basis points.

At the close of trading, the market recorded 17 gainers, 56 losers, and 47 unchanged. BUACEMENT topped the gainer’s list, while DEAPCAP topped the list of losers.

Leave a Reply

Your email address will not be published. Required fields are marked *


Exit mobile version