Nigerian stock market becomes world best, NGXASI hits 91,896.97 points

The All Share Index of the Nigerian Exchange on Thursday, January 18, 2024 hit 91,896.97 points, up by 2.04% from Wednesday’s close of 90,063.25 points.

Nigeria’s stock market is now world’s best after Wednesday’s positive close helped the market to beat Argentina, a country it was trailing last week when it hit the 90,000 mark.

Year to date, the market has risen by 22.90% percent, with the All Share Index at 91,896.97 points and Market Capitalisation at N50.29 trillion. This growth is driven by significant gains in BUA Cement and Dangote Cement among 31 other gainers.

An aggregate of 1.14 billion units of shares was traded in 17,804 deals, valued at N19.29 billion.

Percentage Gainers

Conoil, John Holt, NEM Insurance, Eterna Plc and Unity Bank grew there share prices by 10% respectively.

PZ, May &Baker, McNichols, Abbey Mortgage Bank, Honeywell Flour, NAHCO, Chams, TIP, MRS and Transcorp significantly grew their share prices above 9%

Percentage Losers

Ikeja Hotel led other price decliners, shedding 9.79% of its share price to close at N8.11 from the previous close of N8.99.

Royal Exchange, Mutual Benefit Assurance, Linkage Assurance and Japaul Gold among others also shed their share prices by 9.78%, 9.57%, 9.40% and 9.33% respectively.

Volume Drivers

  • Transcorp traded about 156.62 million units of its shares in 1846 deals, valued at N2.96 billion.
  • Universal Insurance traded about 114.55 million units of its shares in 374 deals, valued at N55.58 million
  • Veritas Kapital traded about 69.41 million units of its shares in 274 deals, valued at 47.33 million.

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