Stock market declines by 1.40% amidst profit taking in 62 stocks


January 11, 2024.

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Azonuchechi Chukwu.

Nigerian stock market on Wednesday declined admits profit taking in 62 stocks.

The All Share Index dropped by 1.40% to close at 82,024.38 points from the previous close of 83,191.84 points.

The Market Capitalisation declined by N639 billion to close at N44.885 trillion from the previous close of N45.524 trillion.

An aggregate of 1.6 billion units of shares were traded in 20,223 deals, valued at N25 billion.

The Market Breadth closed negative as 13 equities emerged as gainers against 62 equities that declined in their share prices.

Percentage Gainers

CADBURY led other gainers with 9.92% growth to close at N19.95 from the previous close of N18.15.

VERITAS KAPITAL and Linkage Assurance among other gainers also grew their share prices by 9.76% and 8.70% respectively.

Percentage Losers

FTN Cocoa, CAVERTON, Cornerstone, Consolidated Hallmark Insurance Holding, CHAMS and May & Baker led other price decliners as they shed 10.00% each of their share prices.

UBA, Ikeja Hotel and UCAP among other price decliners also shed their share prices by 9.97%, 9.95 and 9.95% respectively.

Volume Drivers

TRANSCORP traded about 117.6 million units of its shares in 1,306 deals, valued at N1.5 billion.

ACCESSCORP traded about 116.6 million units of its shares in 1,202 deals, valued at N3 billion.

Sterling traded about 116 million units of its shares in 857 deals, valued at N774.9 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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