The monthly breakdown of market capitalisation revealed that the stock market in January 2024 gained N14.44 trillion in market capitalisation with a 35.29 increment in comparison to the Month that preceded it. In February however, the stock market capitalisation dipped 1.18% an equivalent of N650.5 billion, as investors divested into the Treasury Bills (T-bills) market and also amid corporate earnings by listed companies.
The indicator, NGX ASI, an indicator used to measure the performance of listed firms on the exchange, opened at 74,773.77 basis points and closed at 104,562.06, this variance implies an increase of 39.84 per cent, to close March 28, 2024 at 104,562.06 basis points and a 3.37% surge on a month-on-month performance.
Month | ASI | MKT Cap | ||||
Open | Close | % | Open | Close | % | |
Jan-24 | 74,773.77 | 101,154.46 | 35.28 | 40,917.51 | 55,357.98 | 35.29 |
Feb-24 | 101,154.46 | 99,980.30 | -1.16 | 55,357.98 | 54,707.45 | -1.18 |
Mar-24 | 99,980.30 | 104,562.06 | 4.58 | 54,707.45 | 59,120.52 | 8.07 |
At 39.84 per cent year-till-date (YtD) gain, the Nigerian stock market, came ahead of other exchanges, excluding the Zimbabwe Stock Exchange (ZSE) All Share Index, which had about 314.19 per cent YtD growth.
The NGX Banking Index and NGX Insurance Index appreciated by 21.21 per cent and 10.44 per cent with other indicators showing noticeable positive surges and dips respectively.
Indicators | % Change |
ASI | 4.58 |
NGX30 | 2.89 |
NGXBNK | 21.21 |
NGXCNSMRGDS | -0.78 |
NGXINDUSTR | -0.92 |
NGXINS | 10.44 |
NGXOILGAS | -0.66 |
Notable happenings
Shareholders lauded the Securities and Exchange Commission’s decision to reject the ‘No Objection’ sought by multinational, PZ Cussons Nigeria Plc, to buy out minority shareholders and delist from the Nigerian exchange.
Transnational Corporation Plc (Transcorp Group) announced the listing of its subsidiary, Transcorp Power Plc (Transcorp Power or TP Plc) via listing by introduction on the Main Board of the Nigerian Exchange (NGX), on Monday, March 4, 2024.
Click here to the list of dividends declared shofar
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