Stock market declines by 0.34% as Dangote Cement sheds weight


December 28, 2023.

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Azonuchechi Chukwu.

The Nigerian stock market on Wednesday closed lower as Dangote Cement and other 20 stocks shed weight

The All Share Index declined by 0.34% to close at 73,768.64 points from the previous close of 74,023.27 points.

The Market Capitalisation declined by 0.35% to close at N40.367 trillion from the previous close of N40.507 trillion, thereby shedding N140 billion.

An aggregate of 432.9 million units of shares were traded in 8,901 deals, valued at N12.9 billion.

The Market Breadth closed positive as 40 equities emerged as gainers against 21 equities that declined in their share prices.

Percentage Gainers

ETERNA OIL led other gainers with 10.00% growth to close at N13.20 from the previous close of 12.00.

MANSARD, MULTIVERSE and INFINITY MORTGAGE BANK among other gainers also grew their share prices by 9.96%, 9.95% and 9.93% respectively.

Percentage Losers

UACN led other price decliners as it shed 10.00% of its share price to close at N13.50 from the previous close of N15.00.

DEAPCAP and CAVERTON among other price decliners also shed their share prices by 7.25% and 6.25% respectively.

Volume Drivers

TRANSCORP traded about 31 million units of its shares in 675 deals, valued at N279 million.

GTCO traded about 20 million units of its shares in 245 deals, valued at N819 million.

UCAP traded about 18.8 million units of its shares in 376 deals, valued at N466.5 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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