In the first three trading days of the new year, 2024, the stocks market earned around N1.8 trillion. This happens when key performance indicators have reached their apex. Equities investors on the Nigerian Bourse profited N13 trillion in 2023, outperforming their developing market counterparts.
According to data from the Nigerian Exchange, the market remained optimistic, smashing the previous record to establish a new high on Thursday. Stock performance indicators rose by +0.62% owing to increasing purchasing interest.
Atlass Portfolios Limited reported in a market update that investors’ wealth has increased by 1.78 trillion in three straight trading days.
The market index, or the All-Share Index, rose by 482.97 basis points today, or +0.62%, to settle at 78,020.54. Stockbrokers noted an increase in market activity in their separate notes. Total volume traded climbed by +6.11% and total value exchanged increased by +4.40%, respectively.
According to Nigerian bourse statistics, 984.19 million units worth 11,161.52 million were traded in 12,976 transactions. FCMB was the most traded stock by volume, accounting for 10.88% of total transaction activity.
The financial services sector was followed by FIDELITYBK (10.50%), UNITYBNK (7.72%), STERLINGNG (7.29%), and UNIVINSURE (4.45%) to round out the top 5.
FIDELITYBK was the most traded stock in value terms, with 11.72% of the total value of trades on the exchange. LEARNAFRCA and WEMABANK topped the advancers’ chart with a price appreciation of 10.00 per cent each.
The stock was trailed by TRANSCORP with (+9.93%) growth, IKEJAHOTEL (+9.92%), STERLINGNG (+9.83%), UNITYBNK (+9.74%), and forty-two others.
Twenty-three stocks depreciated, according to trading details. MULITVERSE was the top loser, with a price depreciation of -9.97%. Other stocks that lost include MEYER (-9.75%), JOHNHOLT (-8.62%), ACCESSCORP (-3.47%), JAPAULGOLD (-2.78%), and FBNH (-2.34%).
Based on the new direction, the market breadth closed positive, recording 48 gainers and 23 losers. In addition, the market sector performance was positive. Naira Lost 11% as Banks Issue New Update on FX Spending
Market data showed that four of the five major market sectors inched up, led by the Insurance sector which grew by +2.62%, followed by Oil & Gas sector which gained +0.73%. The Consumer goods sector advanced by +0.55% and the Banking sector surged by +0.13%. The Industrial sector closed flat.
Overall, equities market capitalisation grew by ₦264.29 billion to close at ₦42.69 trillion.
