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.
However, a spell of bearish runs in the NGX since January 29 has seen the market capitalization of some of these stocks fall below the N1 trillion mark, with UBA, Access Holdings, FBN Holdings, Transcorp Hotels, and Dangote Sugar falling below the N1 trillion market cap level. This leaves Geregu Power Plc as the only remaining addition to the SWOOT category this year.
United Bank for Africa started 2024 with a share price of N25.65 and a market cap of N877.2 billion. However, on January 8, 2024, UBA crossed the N1 trillion market cap level, hitting a share price of N29.90 with a market cap of N1.02 trillion.