Dangote, Seplat, BUA’s Wealth Rise As NGX Market Capitalisation Appreciates To N56trn

… Banking Index Performs Badly

The Nigerian Exchange Group (NGX) Banking Index underperformed during the week falling by 1.63 per cent, but the stock market recorded a record growth with Dangote Cement Plc, Seplat Energy Plc and BUA cashing out.

Market data analysed by THE WHISTLER showed that the NGX All-Share Index which measures how well a market is performing rose by 8.32 perc cent to 102,401.88 points.

The market capitalisation of the stock market also appreciated to N56.038tn by the close of trade on Friday, January 26, 2024.

The review period covers January 19, 2024 to January 26, 2024.

Sectoral performance showed that NGX Banking fell 1.63 per cent, NGX Insurance 4.10 per cent, NGX AFR Bank Value declined by 2.36 per cent, NGX MERI Growth lost 3.71 per cent, NGX Growth fell by 1.38 per cent while NGX Sovereign Bond depreciated 0.68 per cent.

On the positive side, the NGX Industrial Goods Index surged by 23.2 per cent, the NGX Premium Index rose by 13 per cent, the NGC Oil and Gas Index rose by 11.57 per cent, the NGX Pension Board Index rose by 8.56 per cent while the NGX Pension Index rose by 1.76 per cent.

On the top gainers, Dangote Cement Plc recorded N155.3 growth in its share price which is 28.82 per cent surge from N538.8 per share to N694.1 per share.

Seplat Energy Plc shares rose by N533.6 or 21 per cent from N2,541 per share to N3,074.6 per share on January 26, 2023.

BUA Cement Plc and BUA Foods recorded N31.15 growth from N148.5 per share to N179.65 per share and N31.8 surge in share price from N240 per share to N271.8 per share respectively.

The worst losers were Cadbury Nigeria Plc with shares falling from N29 to N22.95 per share, while Veritas Kapital Assurance dropped from N0.77 per share to N0.59 per share.