ENUGU, Nigeria (VOICE OF NAIJA)- In an impressive start to the year, the Nigerian Exchange Limited (NGX) witnessed substantial gains as the All-Shares Index (ASI) surged by 35.3 per cent, reaching an impressive 101,154.46 on Wednesday in January 2024.
Throughout the month, the NGX’s ASI experienced a significant boost, climbing from 74,773.77 at the beginning of 2 January, 2024.
The market’s capitalization reflected this growth, gaining N14.440 trillion and closing January at N55.357 trillion, a substantial increase from the initial N40.917 trillion.
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A detailed analysis reveals a predominantly bullish market trend in January, with notable exceptions on the 10th and 30th when declines were observed.
On 18 January, the NGX’s All-Share Index outperformed global counterparts, surging by 2.38 per cent and closing at a historic 90,063.25 points.
The market achieved another milestone on January 24, surpassing the 100,000 points mark, with the ASI reaching a historic 101,571.11 points, appreciating by 3 per cent.
However, the month also saw its first decline on January 10, as the ASI experienced a 1.4 per cent dip, closing at 82,024.38 points from the previous day’s 83,191.84 points.