NGX: Equities market begins 2024 on bullish note as investors make N665bn

The Nigerian equities market began the year on a bullish note as the All-Share Index (ASI) increased to 75,990.88 on Tuesday.

The ASI was 1, 217 basis points higher than the 74,773.77 recorded by the bourse on December 29 last year.

Similarly, the market capitalization increased today by N665.97 billion to N41.583 trillion from N40.918 trillion recorded on the last trading day.

48 stocks advanced and 17 declined, while 53 others remained unchanged in 9,370 deals today.

AIICO Insurance, Daar Communications, Ikeja Hotel, Linkage Assurance, and Sunu Assurances Nigeria posted 10% growth in share price to close at N0.88, N0.99, N6.60, N0.88 and N1.21 from their previous prices of N0.80, N0.90, N6.00, N0.80 and N1.10 per share.

Multiverse Mining and Exploration, Transcorp, and Abbey Mortgage Bank completed the list of gainers with 9.96%, 9.93 and 9.91% rise in their share prices.

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Cadbury Nigeria, Mecure Industries, and Thomas Wyatt shed 10% off their share price to close at N17.10, N10.80, and N2.43 from their previous close of N19.00, N12.00, and N2.70 per share.

Prestige Assurance, SCOA Nigeria, and Stanbic IBTC Holding with 9.80%, 8.59%, and 8.11% are other major losers in today’s trading.

On the volume index, Mutual Benefit Assurance traded 101.363 million shares valued at N51.4 million in 161 deals followed by Transcorp with 46.447 million shares worth N438.7 million traded by shareholders in 644 deals.

Unity Bank traded 35.221 million shares valued at N61.6 million in 180 deals.

On the value index, Airtel Africa traded stocks worth N741 million in 74 deals followed by GTCO with N601 million worth of stocks in 290 deals.

UBA traded stocks worth N513 million in 459 deals to complete the top three in this category.

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