ADVERTISEMENT
TechEconomy
Sunday, June 1, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » NGX Closes January ’24 with 26,380.68 Points, 35.3% Surge in All-Share Index

NGX Closes January ’24 with 26,380.68 Points, 35.3% Surge in All-Share Index

Reporter: Tobi Adetunji

Techeconomy by Techeconomy
February 1, 2024
in Finance
0
NGX - Nigeria Exchange Group, equities market
NGX - Nigeria Exchange Group

NGX - Nigeria Exchange Group

RelatedPosts

America Debt - IMF

Can AI Save America from its Debt Spiral

May 31, 2025

Naira Holds Steady at N1,586/$1 in Official Market

May 31, 2025

Equities trading on the Nigerian Exchange Limited (NGX) concluded the first month of 2024 (January) with notable positivity, propelled by a notable surge of 35.5% and 26,380.68  points affirming  investor confidence directed towards listed corporations.

This exceptional performance stands as a milestone in NGX’s history, defying prevailing economic challenges such as elevated inflation, a depreciating exchange rate, and persistent security concerns.

The prevailing optimism manifested in discernible shifts in purchasing behaviour, culminating in the All-Share Index reaching a noteworthy close at 101,154.46 index points by the end of January.

This figure represents a substantial 35.3% escalation from the previous year’s conclusion.

Moreover, the year-to-date (YTD) return of the NGX All-Share Index underscores its resilience, standing at an impressive 35.3%.

Despite the backdrop of escalating inflation, prospective interest rate adjustments, and volatile exchange rates, investor confidence has displayed remarkable steadfastness.

This unwavering assurance has, in turn, spurred heightened market activity and intensified buying engagements.

A keen look at the timeline, reveal that Equity trading on the Nigerian Exchange Limited (NGX) had closed trading on Wednesday, January 24th, 2024, in the green territory as the NGX All-Share Index appreciated by 3% to cross 100,000 index points hitting 101,571.11 points.

The development was unprecedented in the history of the Exchange being the first time the Exchange achieved the feat.

According to the report, before crossing the 100,000 points, NGX had secured its position as the world’s best-performing stock market in the first three weeks of 2024, capping off the trading day on January 19, 2024, at an impressive 94,538.12 points.

With a remarkable year-to-date return of 26.43%, the NGX has outshone its global counterparts.

The market positive sentiment among investors is being attributed to several factors, including favourable policies introduced by President Bola Tinubu’s administration such as the removal of fuel subsidies, streamlining of exchange rates, the floating of the naira and investors strategically positioned themselves and taking advantage of the recent record earnings posted by quoted firms.

However, for the first time in 20 days massive sell offs triggered at the NGX on 30th of January and extended to 31st following profit takings.

For the two days, the NGX closed in the bearish zone as the All-Share Index declined by cumulatively by 3.36% to close at 101,154.46 points, a decline of 3,520 from 104,674.67 points it closed on Monday 29th.

Consequently, available statistics  showed that the All-Share Index, which is the broad index that measures the performance of Nigerian stocks, opened the trading month at 74,773.77 index points at the beginning of trading on January 2, 2024, and closed at 101,154.46 points at the end the month on January 31, gaining 26,380.68 basis points or 35.3%.

Further analysis revealed that activities on the Nigerian Exchange Limited (NGX) which opened the trading month at N40.917 trillion in market capitalization at the beginning of trading, closed the month at N55.357 trillion, hence has earned a month-to-date gain of about N14.440 trillion.

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: NGX
Previous Post

Canal+ makes Non-Binding Offer to Acquire MultiChoice Group

Next Post

Revolutionizing Agriculture with Agrisat

Techeconomy

Techeconomy

Related Posts

America Debt - IMF
Finance

Can AI Save America from its Debt Spiral

by Techeconomy
May 31, 2025
0

As America stares down the barrel of a $35 trillion debt pile, policymakers, investors - and increasingly, the public -...

Read more
Nigeria economy by FBNQuest, Naira currency, Nigeria's currency, strongest currencies

Naira Holds Steady at N1,586/$1 in Official Market

May 31, 2025
Naira vs Dollar | Asset management

Naira Appreciates in the Official Market, Closes at N1,586/$1

May 30, 2025
Arik Air in 2024

Alleged N76bn Fraud: EFCC Witness & Ex-Union Bank ED Reveals He Wrote-Off Arik’s $2.3m Debt

May 29, 2025
SANEF CEO Uche Uzoebo receives RedTech Award

RegTech Conference: SANEF’s CEO Uche Uzoebo Makes Case for More Financial Inclusion Strategies Targeting Women

May 29, 2025
SEC cancels Silverkuun

SEC Warns Public against Investing in Silverkuun Limited

May 29, 2025
Next Post
Agrisat

Revolutionizing Agriculture with Agrisat

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.