Nigeria Stock Market plunges by 0.24% as 22 stocks shed weight


October 17, 2023.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

Nigerian stock market on Monday plunged by 0.24% as 22 stocks shed weight, led by Sovereign Trust Insurance.

The All Share Index dropped by 0.24% to close at 67,037.93 points from the previous close of 67,200.69 points.

The Market Capitalisation declined by 0.24% to close at N36.830 trillion from the previous close of N36.920 trillion, thereby shedding N90 billion.

An aggregate of 216 million units of shares were traded in 5,965 deals, valued at N3.6 billion.

The Market Breadth closed negative as 19 equities emerged as gainers against 22 equities that declined in their share prices.

Percentage Gainers

Royal Exchange led other gainers with 8.51% growth each to close at N0.51 and from the previous close of N0.47

Consolidated Hallmark Insurance and NASCON among other gainers also grew their share prices by 6.96% and 5.45% respectively.

Percentage Losers

Sovereign Trust Insurance and STANBIC led other price decliners as they shed 10.00% each of their share prices to close at N0.36 and N72.00 respectively.

Okomu Oil and Oando among other price decliners also shed their share prices by 9.96% and 9.24% respectively.

Volume Drivers

UBA traded about 32.6 million units of its shares in 365 deals, valued at N579million.

Fidelity Bank traded about 29 million units of its shares in 219 deals, valued at N238 million.

Dangote Sugar traded about 10.6 million units of its shares in 486 deals, valued at N658 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.

Share post:



More like this

Rema’s ‘Calm Down Makes History, Becomes First African Song to Earn 1 Billion Streams in US

June 17, 2024. Azonuchechi Chukwu. Nigerian singer, Divine Ikubor, aka Rema’s...

Suspected Armed Robbers Gun Down DJ in Abuja

June 17, 2024. Azonuchechi Chukwu. Suspected armed robbers attacked the Volcano...

Gunmen Attack Enugu community shoot four

June 17, 2024. Azonuchechi Chukwu. Gunmen on Saturday attacked the Umu-Ezuboke...