Stock market marginally down, returns 0.05%


May 22, 2023.

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Azonuchechi Chukwu.

The Nigerian stock market closed last week marginally lower as losses in Airtel Africa, PRESCO and other 25 stocks shed weight.

The All Share Index was down by 0.05% to stand at 52,187.93 from 52,214.62 recorded previously

Market capitalization declined also by 0.05% to settle at N28.417 trillion from N28.431 trillion in the week before.

An aggregate of 3 billion units of shares were traded in 29,505 deals, valued at N33.6 billion.

The market breadth closed positive as 44 stocks gained against 27 stocks that declined in their share prices.


FTN Cocoa led other gainers in the course of last week with 37.50% growth, closing at N0.44 from the previous close of N0.32.

Ikeja Hotel, PZ, Livestock Feeds and Cornerstone Insurance grew their share prices by 30.13%, 28.00%, 27.45% and 23.08% respectively.

Other among the top 10 gainers include: CADBURY 21.32%, MRS 20.89%, NCR 20.70%, Nigerian Breweries 18.38% and MANSARD 17.13% respectively.


CWG led other price decliners, shedding 25.60% of its share price to close at N1.54 from the previous close of N2.07.

ARDOVA, May & Baker, Honeywell Flour and MCNICHOLS shed 23.67%, 10.11%, 9.67% and 9.33% respectively.

Other price decliners include: Consolidated Hallmark Insurance (8.82%), Academy Press (8.38%), Fidelity Bank (6.46%), Champion Breweries (6.43%) and Airtel Africa (6.00%) respectively.(

Azonuchechi Chukwu
Azonuchechi Chukwu
Azonuchechi Chukwu - Business Journalist at Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the team.

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