Stock market advances by 0.35%, as investors gain N98bn


May 23, 2023.

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Azonuchechi Chukwu.

Transactions on the floor of the Nigerian Stock Market on Monday closed on a positive note as the All Share Index advanced by 0.35% to close at 52,369.13 points from the previous close of 52,187.93 points last Friday.

Investors gained N98 billion as the Market Capitalisation grew by 0.34% to close at N28.515 trillion from the previous close of N28.417 trillion.

An aggregate of 318 million units of shares were traded in 5,847 deals, valued at N4 billion.

Market Breadth

The market breadth closed positive as 31 equities appreciated in their share prices against 15 equities that declined in their share prices.

Percentage Gainers

Ikeja Hotel led other gainers with 9.85% growth, closing at N2.23 from the previous close of N2.03.

Academy Press, Prestige Assurance and NPF Microfinance Bank also grew their share prices by 9.80%, 9.76% and 9.71% respectively.

Percentage Losers

NCR led other price decliners as it shed 9.71% of its share price to close at N2.79 from the previous close of N3.09.

Sovereign Trust Insurance and NEIMETH among other price decliners also shed their share prices by 8.89% and 7.33% respectively.

Volume Drivers

Zenith Bank traded 53 million units of its shares in 544 deals, valued at about N1.4 billion.

ACCESSCORP traded 48 million units of its shares in 445 deals, valued at N486 million.

UBA traded about 31 million units of its shares in 360 deals, valued at 262 million.(

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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