Tag
SWOOTS
Nigeria's oldest bank, FBN Holdings became the most capitalized bank in Nigeria at the close of trading on Monday 25th February 2024.
After an initial bullish run in the NGX this year, which saw the introduction of six new stocks into the category of stocks worth over N1 trillion (SWOOTs) namely United Bank for Africa, Access Holdings, Transcorp Hotels, FBN Holdings, Geregu Power, and Dangote Sugar Refinery the number of stocks in the SWOOTs category increased to fourteen.
In continuation of this week’s bullish rally, the NGX’s All-Share Index appreciated to a new all-time high of 71,112.99 points, representing a 0.12% gain from Thursday.
Market newbies, VFD Group Plc and MeCure Industries topped the gainers chart as the NGX continued its bullish run albeit at a slower pace as the All-Share Index appreciated by 0.04% to close at 70,849.38 points.
Stocks with a market capitalization of over one trillion naira, colloquially known as SWOOTs, have emerged as the titans of the Nigerian Stock Exchange (NGX).
Seplat Energy Plc has seen its market capitalization cross N1 trillion to join the exclusive group of SWOOTs.
The Nigerian Bourse (NSE) witnessed a positive turn on Friday, as the bearish sentiment gave way to an impressive upswing, resulting in a noteworthy increase of N86 billion in the aggregate market value of listed stocks.
The NGX opened the week with a bullish trajectory as it added N76 billion to its market value, reflecting a rise of 0.21%.
The Nigerian stock market closed the week with a strong performance, as investors witnessed a N584 billion increase in market capitalization on July 21, 2023.
The Nigerian equity market experienced a significant pullback on Tuesday, as investors booked profits after a strong performance in the previous trading day.
SWOOTs (Stocks Worth Over One Trillion) include Airtel Africa, MTN Nigeria, Dangote Cement, BUA Foods, BUA Cement, and Zenith Bank.
At the close of market activities for the week, the combined market capitalization of SWOOTs appreciated by 3.81% to close at N20.617 trillion from N19.859 trillion the previous week, reflecting a gain of N757.17 billion.