The Nigerian stock market began the new year 2024 wit a bang, adding ₦665 billion to Investor’s wealth.
Also read; FG to commence automation of passport application by Jan 8
The bench mark index of the Nigerian Exchange’s equities market; the All-Share Index (NGX ASI) gained 1.63% to close the first day of trading in 2024 at 75,990.88 points.
Activity level
The activity level was mixed as the volume of shares traded increased by 39.93%, while the volume of shares traded decreased by 56.53%
On Tuesday, 515.80 million shares valued at ₦5.57 billion was traded in 9,370 deals.
Shares of Transnational Corporation Plc (NGX: TRANSCORP), United Bank for Africa Plc (NGX: UBA) and Access Holdings Plc (NGX: ACCESSCORP) were the most traded by volume with 46.64 million, 20.07 million and 16.03 million respectively.
The shares of Airtel Africa Plc (NGX: AIRTELAFRI), Guaranty Trust Holding Company (NGX: GTCO) and United Bank for Africa Plc (NGX: UBA) were the most traded with shares valued ₦741.77 million, ₦601.92 million, and ₦513.85 million respectively exchanging hands.
Top Gainers and Losers
Investor sentiment was strong at 2.8x as 50 stocks advanced against 18 stocks that declined.
The top five gainers on Tuesday were;
- Sunu Assurances Nigeria Plc (NGX: SUNUASSUR): It gained 10% to close at ₦1.21.
- Daar Communications Plc (NGX: DAARCOMM): It gained 10% to close at ₦0.90.
- Ikeja Hotel Plc (NGX: IKEJAHOTEL): It gained 10% to close at ₦6.00.
- Linkage Assurance Plc (NGX: LINKASSURE): It gained 10% to close at ₦0.88.
- Infinity Trust Mortgage Bank Plc (NGX: INFINITY): It gained 10% to close at ₦6.60.
The top five losers on Tuesday were;
- Thomas Wyatt Nig. Plc (NGX: THOMASWY): It lost 10% to close at ₦2.43.
- Cadbury Nigeria Plc (NGX: CADBURY): It lost 10% to close at ₦17.10.
- Mecure Industries Plc (NGX: MECURE): It lost 10% to close at ₦10.80.
- Prestige AssurancePlc (NGX: PRESTIGE): It lost 9.80% to close at ₦0.46.
- Consolidated Hallmark Holdings Plc (NGX: CONHALLPLC): It lost 9.52% to close at ₦1.33.
Four out of the five indices under our watch appreciated, only the banking index suffered a decline.
- Banking Index: The index dropped by 0.33% to close at 894.20, owing to loses in STANBIC (-8.11%) and GTCO (-0.99%).
- Industrial Index: The industrial index enjoyed a 2.14% gain to advance to 2,770.42 points. This is predominantly due to gains in BUACEMENT (+5.15%) and PRESCO (+5.70%).
- Consumer Goods Index: The index advanced by 0.36%, dragged on by gains in UACN (+9.73%).
- Oil & Gas Index: It advanced by 0.36%, thanks to gains recorded on the counters of ETERNA (+9.75%) and OANDO (+3.33%).
- Insurance Index: Three insurance stocks achieved the maximum possible gains in today’s trading; SUNUASSUR (+10%), LINKASSURE (+10%) and AIICO (+10%). The insurance index was able to record a 0.94% gain, as loses by PRESTIGE (-9.80%) and CONALLPLC (-9.52%).
Nnamdi Maduakor is a Writer, Investor and Entrepreneur