In January 2024, the NGX witnessed significant gains, concluding with an All-Share Index of 104,421.23 points, indicating a remarkable year-to-date gain of 39.65 per cent. Here are the best-performing stocks during the month:
Dangote Cement (+139%)
Dangote Cement emerged as the top-performing stock, achieving a remarkable 139 per cent gain. Its share price surged from N319.90 to N763.00, resulting in a market capitalization of N13 trillion.
BUA Cement (+90.7%)
BUA Cement recorded a massive gain of 90.7 per ent, with its share price rising from N97.00 to N185.00. The company’s market capitalization increased by N2.98 trillion, reaching N6.26 trillion.
Wema Bank (+78.6%)
Wema Bank showcased remarkable performance, achieving a monthly gain of 78.6 per cent. The bank’s share price increased from N5.60 to N10.00, and its market capitalization appreciated by N56.6 billion.
Japaul Gold and Ventures (+54.1%)
Japaul Gold and Ventures delivered an impressive performance with a 54.1 per cent monthly gain. The share price reached N2.62, and the company’s market capitalization increased by N5.8 billion.
Universal Insurance Company (+50%)
Universal Insurance emerged as one of the best performers, achieving a monthly gain of 50 per cent. The share price increased from N0.26 to N0.39, and the market capitalization rose to N6.24 billion.
Transnational Corporation (TRANSCORP) (+49.7%)
Transnational Corporation Plc (TRANSCORP) recorded significant gains with a 49.7 per cent increase. The share price moved from N8.66 to N12.96, and the market capitalization rose to N526.8 billion.
Unity Bank (+43.8%)
Unity Bank Plc recorded an impressive gain of 43.8 per cent, with the share price rising from N1.62 to N2.33. The bank’s market capitalization increased by N8.3 billion.
Geregu Power (+42.4%)
Geregu Power Plc demonstrated stellar performance with a 42.4 per cent increase. The share price moved from N399.00 to N568.00, and the market capitalization rose to N1.42 trillion.
BUA Foods (+40.5%)
BUA Foods, the largest consumer goods stock, recorded a monthly gain of 40.5 per cent. The share price increased from N198.90 to N271.80, and the market capitalization gained N1.41 trillion.
Transcorp Hotels (+38.8%)
Transcorp Hotels saw a surge in its share price by 38.8 per cent, rising from N70.18 to N97.40. The market capitalization closed at N997.6 billion.
The NGX’s impressive performance in January 2024 was attributed to the notable gains of these top-performing stocks, contributing to an increase in market capitalization by about N14.44 trillion.
