Cadbury Nigeria topped the NGX gainers’ chart for the week ending January 12, 2024.
As the All-Share Index appreciated by 4.24%, closing at 83,042.96 points, gaining 3,378.3 points from the previous week’s closing price of 79,664.66 points.
In another remarkable trading week, the NGX All-Share Index achieved a record-breaking 83,191.84 points on Tuesday, January 9, 2024. Additionally, on the same date, all FUGAZ banks marked a historic milestone by surpassing the N1 trillion market capitalization level for the first time.
According to the NGX weekly market, equities gained N1.848 trillion during the week as the market capitalization appreciated by 4.24% to close at N45.442 trillion, from the previous week’s N43.594 trillion.
According to Bloomberg, the market has gained about 11.06%, making it the world’s second-best-performing stock market in 2024.
Equity Market Performance
Investors traded a total of 5.719 billion shares valued at N88.828 billion in 80,064 deals this week, compared to last week’s 3.320 billion shares worth N41.755 billion in 46,994 deals.
The Financial Services Industry took the lead in trading, with 3.873 billion shares valued at N53.364 billion in 39,913 deals. This accounted for 67.72% of the total equity turnover volume and 60.08% of the total value. Following closely, the Conglomerates Industry recorded 725.490 million shares traded, amounting to N9.886 billion in 7,658 deals. In third place was the Oil and Gas Industry, with a turnover of 223.240 million shares valued at N2.690 billion in 4,464 deals.
The top three equities, namely 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 deals. This contribution represented 24.12% of the total equity turnover volume 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
Between January 8 and January 12, 2024, two new entrants joined the SWOOT category. FBN Holdings recorded a 7.69% appreciation, with its market capitalization rising by N61.34 billion during the week, reaching a total of N1.005 trillion.
Also, the United Bank for Africa (UBA) appreciated by 7.08% within the week, with its market cap increasing by N70.1 billion, as the bank reached a market cap of N1.06 trillion.
Trading sentiment remained notably positive for SWOOT category members during the week, with BUA Foods, Dangote Cement, GTCO Holdings, and Zenith Bank posting gains of 15.5%, 7.69%, 8.94%, and 2.385% respectively. However, MTN Nigeria and BUA Cement experienced marginal losses of 0.7% and 0.15% respectively.
Access Holdings registered a 5.46% gain 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.
