Nigeria Stock market declines by 0.09% as MTN sheds weight


November 23, 2023.

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Azonuchechi Chukwu.

Trading of equities on the floor of the Nigerian Exchange on Wednesday, closed on a negative note, occasioned by drop in the share price a MTN.

The All Share Index declined by 0.09% to settle at 71,003.98 points from the previous close of 71,066.55. Market Capitalisation closed at N39.048 trillion. Year-to-date to the stock market has returned 38.54%.

An aggregate of 428 million units of shares was traded in 6,677 deals valued at N7.373 billion.

Market Breadth

The market breadth closed positive as 36 equities gained while 15 equities declined in share prices.

Percentage Gainers

Daar Communications Plc, R.T. Briscoe and Unity Bank led other gainers with 10% growth each to close at N0.33, N0.66 and N1.54 respectively.

Mecure Industries, Multiverse Mining and Exploration and Secure Electronic Technology Plc amongst other gainers also grew their share prices by 9.96%, 9.82% and 9.52% respectively.

Percentage Losers

C&I Leasing Plc led other price decliners as it shed 7.56% of its share price to close at N5.26 from its previous close of N5.69.

Prestige Assurance, International Breweries and UPDC REIT Plc amongst other losers also shed their share prices by 7.55%, 5.56% and 4.60% respectively.

Volume Drivers

Veritas Kapita Assurance Plc traded about 62.079million units of its shares in 125 deals, valued at N22.865million.

Unity Bank Plc traded about 38.686million units of its shares in 223 deals, valued at N59.406million.

Guaranty Trust Holding (GTCO) Plc traded about 33.873 million units of its shares in 321 deals, valued at 1.284billion. (

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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