Nigerian stock exchange records 35.5% rise in January

Lagos—Nigerian Exchange Limited (NGX) recorded impressive gains in January 2024 as the All-Shares Index surged by 35.3 per cent, reaching 101,154.46 on Wednesday, Daily Post reports.

According to available data, in the month under review, the NGX’s ASI increased to 101,154.46 from 74,773.77, which started on January 2, 2024.

Further analysis showed that NGX’s market capitalization gained N14.440 trillion as it closed January at N55.357 trillion from N40.917 trillion with which it started.

The market recorded a bullish run in most of January except on the 10th and 30th, when it saw declines.

For instance, on January 18, it ranked the best stock market, displacing that of Argentina as NGX’s All-Share Index appreciated by 2.38 per cent to close to reaching a historic 90,063.25 points.

On January 24, the market crossed the 100,000 points mark and achieved a historic feat as the ASI crossed 101,571.11 points, appreciating by 3 per cent.

However, the country’s stock market recorded its first decline on January 10 as ASI crashed by 1.4 per cent to close at 82,024.38 points from 83,191.84 points the previous day.

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