{"id":1512,"date":"2024-01-10T06:02:43","date_gmt":"2024-01-10T06:02:43","guid":{"rendered":"https:\/\/aqqute.com\/blog\/?p=1512"},"modified":"2024-01-10T06:02:43","modified_gmt":"2024-01-10T06:02:43","slug":"nigerian-stock-market-starts-the-year-with-a-bang-year-to-date-returns-soar-to-49","status":"publish","type":"post","link":"https:\/\/aqqute.com\/blog\/2024\/01\/10\/nigerian-stock-market-starts-the-year-with-a-bang-year-to-date-returns-soar-to-49\/","title":{"rendered":"Nigerian Stock Market Starts the Year with a Bang, Year-to-Date Returns Soar to 49%"},"content":{"rendered":"

Nigerian Stock Market Starts the Year with a Bang, Year-to-Date Returns Soar to 49%<\/b>\u00a0<\/span><\/p>\n

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Nigerian Exchange Ltd.<\/span><\/a> (NGX) Sees a Robust Start to the Year with a Market Capitalization Increase of N666 Billion, Up by 1.63%.<\/span><\/p>\n

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Photo credits: Google<\/span><\/i><\/p>\n

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On the initial trading day of the year, the market capitalization of the Nigerian Exchange Ltd. (NGX) witnessed a notable gain, surging by N666 billion or 1.63%. The market closed at N41.583 trillion, marking a 1.63% rise from the N40.917 trillion recorded on the previous Friday.<\/span><\/p>\n

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Moreover, the <\/span>All-Share Index<\/span><\/a> showed a positive trend by going up by 1,217.11 points or 1.63%. It closed at 75,990.88, which is higher than the Friday closing of 74,773.77. This led to a Year-to-Date (YTD) return increase, reaching an impressive 48.96%.<\/span><\/p>\n

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The good showing happened because more people were buying and selling the stocks of certain insurance companies, phone companies, and fancy hotels.<\/span><\/p>\n

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Photo credits: LinkedIn<\/span><\/i><\/p>\n

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AIICO<\/span><\/a> Insurance led the pack as the top performer among traders, surging by 10%. Its closing price settled at 88k. Right behind were <\/span>Daar Communications<\/span><\/a> and <\/span>Ikeja Hotel<\/span><\/a>, both also experiencing a 10% increase and closing at 99k and N6.60 per share, respectively. Similarly,<\/span> Infinity Trust Mortgage Bank <\/span><\/a>and <\/span>Linkage Assurance<\/span><\/a> achieved the same growth percentage, closing at N6.60 and 88k per share, respectively.<\/span><\/p>\n

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Photo credits: LinkedIn<\/span><\/p>\n

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Among the stocks that didn’t perform well, <\/span>Cadbury <\/span><\/a>and <\/span>Mecure <\/span><\/a>were the top losers, each seeing a 10% drop and closing at N17.1 and N10.89 per share, respectively. <\/span>Thomaswy <\/span><\/a>also experienced a 10% decline, closing at N2.43 per share. Furthermore, <\/span>Prestige Assurance<\/span><\/a> went down by 9.80%, closing at 46k, and <\/span>Omatek <\/span><\/a>lost 9.21%, closing at 69k. These changes in stock prices were reported by <\/span>NAN<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerian Stock Market Starts the Year with a Bang, Year-to-Date Returns Soar to 49%\u00a0   Nigerian Exchange Ltd. (NGX) Sees a Robust Start to the Year with a Market Capitalization Increase of N666 Billion, Up by 1.63%. Photo credits: Google   On the initial trading day of the year, the market capitalization of the Nigerian …<\/p>\n","protected":false},"author":1,"featured_media":1513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,21],"tags":[],"class_list":["post-1512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","category-insights"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t