The market capitalisation of the Nigerian Exchange Ltd. (NGX) on Tuesday, first trading of the year, recorded a gain of N666 billion or 1.63 per cent.
The gain represents 1.63 per cent, closing at 41.583 trillion, compared to N40.917 trillion recorded on Friday.
Also, the All-Share Index also grew by 1,217.11 points or 1.63 per cent to close at 75,990.88 as against 74,773.77 recorded on Friday.
As a result, the Year-to-Date (YTD) return rose to 48.96 per cent.
The positive performance was as a result of an increase in trading in the shares of some insurance companies, telecommunication companies and five stars hotels.
Meanwhile, AIICO Insurance led the top trader’s table in percentage terms of 10 per cent to close at 88k.
It was followed by Daar Communications and Ikeja Hotel also grew by 10 per cent each to close at 99k and N6.60 per share, respectively.
Also, IInfinity Trust Mortgage Bank and Linkage Assurance gained 10 per cent each to close at N6.60 and 88k per share, respectively.
On the loosers table, Cadbury and Mecure led in percentage terms by 10 per cent each to close at N17.1 and N10.89 per share.
Thomaswy also dropped by 10 per cent to close at N2.43 per share.
Prestige Assurance shed 9.80 per cent to close at 46k, while Omatek lost 9.21 per cent to close at 69k.
NGX reveals results of half-year review of market indices
Meanwhile, the NGX has announced the entry and exit of some companies from its indices on Tuesday.
Mr Clifford Akpolo, Head, Marketing and Corporate Communications, NGX stated this in the results of the NGX half year ended, December 2022, market index review made available in Lagos.
Akpolo said that the indices reviewed included : NGX 30, NGX Lotus Islamic, NGX Pension, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index.
He also identified others to include Meristem Growth Index, Meristem Value Index, and the five Sectoral Indices of The Exchange, NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil and Gas.
“The review has led to the entry and exit of some companies from several indices which took effect at the open of the market on Jan. 2 2024.
“Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July respectively.
“NGX indices are developed to allow investors efficiently track market movements and properly manage investment portfolios,” he said.
According to him, some of the companies which entered the market for trading are : FBN Holdings, Universal Insurance, ZenithBank, United Bank of Africa (UBA), FCMB Group Plc, Guaranty Trust Holding, StanbicIBTC Holding, Universal Insurance Company.
Also, Transcorp Hotel, Fidson Healthcare Plc, Access Bank, Fidelity Bank, WAPCO, MTN Nigeria Communications, Vitafoam Nigeria Plc, AIICO Insurance, Caverton, Julius Berger, among others.
Akpolo listed the companies which exited the Exchange as : Jaiz Bank, Unity Bank, Union Bank, Wema Bank, International Energy Insurance, PZ Cusson Nigeria Plc, Unilever Nigeria Plc, Nestle Nigeria Plc.
Others include Glaxo Smithkline Consumer Nigeria, Dangote Sugar Refinery Plc and FCMB Group, among others.
He noted that NGX continued to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development.
According to Akpolo, this deepens the market and boosts liquidity, therefore connecting Nigeria, Africa and the world.