Nigeria’s equities market closes 2024 bearish as ASI declines by 0.22%
Nigeria’s Equities market closed negative Tuesday, as the NGX-ASI decreased to 102,926.40 from 103,149.35 recorded at the close of the previous trading day, indicating a YTD return of +37.65%.
Market capitalization decreased by ₦136 billion to ₦62.763 billion from ₦62.899 trillion recorded at the previous trading day’s close. However, the market turnover increased to ₦40.335 billion from ₦15.497 billion.
At the end of today’s trading session, a total of 437,758,859 shares in 8,830 deals, corresponding to a market value of NGN 40,335,324,235.13, were traded. Compared with the previous NGX trading day (Monday, December 30), today’s data shows 32% decline in volume, 160% improvement in turnover, but 36% decline in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 62.8 trillion.
In the aggregate, 127 NGX listed equities participated in trading, ending with 36 gainers and 27 losers. Beta Glass Company led the gainers with 10% share price appreciation closing at NGN 64.90 per share, followed by Prestige Assurance Company (+10%), Universal Insurance Company (+10%) and Okomu Oil Palm (+9.98%).
On the losing side, Eterna came out last with an end-of-day price depreciation of 10% at NGN 24.30 per share, followed by Union Dicon Salt (-10%), Champion Breweries (-8.19%) and PZ Cussons Nigeria (-6.9%). Access Holdings recorded the highest volume of 30.3 million traded shares, followed by Universal Insurance Company (24.6m), Prestige Assurance Company (24.3m) and Skyway Aviation Handling Co. (22.1m).
Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) pared 222.95 (-0.22%) points to close at 102,926.40, representing a 1-week gain of 1.78%, a 4-week gain of 5.56%, and an overall year-to-date gain of 37.65%.
Other remarkable indices that performed were the NGX Top 30 Index (-0.23%; +2.28% 1WK; +36.61% YTD), NGX Insurance Index (+4.93%; +15.96% 1WK; +123.22% YTD), NGX Oil & Gas Index (+0.43%; -0.04% 1WK; +160.01% YTD), NGX Industrial Index (+0.17%; +0.27% 1WK; +31.7% YTD), NGX Main Board Index (+0.1%; +1.23% 1WK; +44.13% YTD), and NGX Consumer Goods Index (-0.29%; +4.65% 1WK; +54.44% YTD).
