Cadbury Nigeria was the biggest gainer on the NGX for the week ending January 12, 2024.
The Times reported that the All-Share Index rose 4.24% to close at 83,042.96 points, up 3,378.3 points from the previous week’s close of 79,664.66 points.
The NGX All-Share Index hit a record-breaking 83,191.84 points on Tuesday, January 9, 2024, capping another incredible trading week. On the same day, all FUGAZ banks achieved a historic milestone by topping N1 trillion in market capitalization for the first time.
According to the NGX weekly market, equities gained N1.848 trillion over the week, while market capitalization increased by 4.24% to N45.442 trillion, up from N43.594 trillion the previous week.
According to Bloomberg, the market has gained over 11.06%, positioning it as the world’s second-best-performing stock market in 2024.
This week, investors traded 5.719 billion shares worth N88.828 billion in 80,064 transactions, up from 3.320 billion shares worth N41.755 billion in 46,994 transactions last week.
The Financial Services Industry led in trading, with 3.873 billion shares valued at N53.364 billion traded in 39,913 transactions. This represented 67.72% of overall equity turnover volume and 60.08% of total value.
Following closely behind, the Conglomerates Industry saw 725.490 million shares exchanged, totaling N9.886 billion in 7,658 transactions. The Oil and Gas Industry came in third position, with a turnover of 223.240 million shares valued at N2.690 billion in 4,464 transactions.
Transnational Corporation Plc, FCMB Group Plc, and Fidelity Bank Plc accounted for a total of 1.380 billion shares valued at N17.741 billion in 12,442 transactions. This contribution accounted for 24.12% of the overall volume of equity turnover and 19.97% of the total value.
Top Gainers during the week:
CADBURY NIGERIA: +42.31% to close at N24.05
VERITAS KAPITAL ASSURANCE: +39.47% to close at N0.53
JULIUS BERGER NIGERIA: +32.94% to close at N56.50
THE INITIATES: +31.43% to close at N1.84
JAIZ BANK: +31.30% to close at N3.02
GUINEA INSURANCE: +29.73% to close at N0.48
LINKAGE ASSURANCE: +27.83% to close at N1.47
UNIVERSAL INSURANCE: +23.33% to close at N0.37
C&I LEASING: +21.89% to close N4.12
ROYAL EXCHANGE: +20.99% to close N0.98
Top Losers during the week:
DAAR COMMUNICATIONS: -30.23% to close at N0.90
TOTALENERGIES MARKETING NIGERIA: -10.00% to close at N346.50
NEM INSURANCE: -9.45% to close at N5.75
CWG: -9.29% to close at N8.10
MAY & BAKER NIGERIA: -7.73% to close at N5.49
FIDSON HEALTHCARE: -7.29% to close at N17.80
CAVERTON OFFSHORE SUPPORT GROUP: -6.82% to close at N2.05
CUSTODIAN INVESTMENT: -6.45% to close at N10.15
THOMAS WYATT NIGERIA: -6.37% to close at N2.50
FIDELITY BANK: -5.63% to close at N13.40
SWOOTs and FUGAZ update:
Two new competitors entered the SWOOT category between January 8 and January 12, 2024. FBN Holdings increased by 7.69% throughout the week, with its market value increasing by N61.34 billion to N1.005 trillion.
Also, the United Bank for Africa gained 7.08% in a week, with its market cap jumping by N70.1 billion, bringing the bank’s total value to N1.06 trillion.
During the week, trading mood for SWOOT category members remained significantly strong, with BUA Foods, Dangote Cement, GTCO Holdings, and Zenith Bank showing gains of 15.5%, 7.69%, 8.94%, and 2.385%, respectively. MTN Nigeria and BUA Cement, on the other hand, suffered small losses of 0.7% and 0.15%, respectively.
Access Holdings gained 5.46% throughout the week, reaching a market cap of N995.3 billion. While the bank entered the SWOOTs territory during the week, its market cap ultimately concluded just below the N1 trillion threshold by the week’s end.
