Stock market sustains uptrend, returns 13.84% WtD


January 22, 2024.

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Azonuchechi Chukwu.

The Nigerian stock market last week closed on a bullish note with 13.84% growth. Year to date, the market has returned 26.43% with the All Share Index and Market Capitalisation at 94,538.12 points and N51.735 trillion respectively.

An aggregate of 5.179 billion units of shares in 79,012 deals, valued at N77.80 billion.

The market breadth closed positive as 81 equities emerged as gainers while 16 equities declined in their share prices.


The Initiate Plc led 80 other gainers in the course of last week as it gained 59.78% to close at N2.94 from the previous close of N1.84.

Dangote Cement, Honeywell Flour, May & Baker and MCNICHOLS grew their share prices by 53.94%, 50.77%, 50.46% and 46.34% respectively.

Others top 10 gainers include: BUACEMENT 45.80%, Veritas Kapital 45.28%, CHAMS 42.61%, Unity Bank 41.70% and Ne Insurance 39.13% respectively.


Royal Exchange led other price decliners as it shed 22.45% of its share price to close at N0.76 from the previous close of N0.98.

Ikeja Hotel, Linkage Insurance, MULTIVERSE and UCAP among other price decliners shed their share prices by 10.57%, 8.16%, 6.59% and 6.27% respectively.

Others top 10 price decliners include: FBNH (5.00%), CUSTODIAN (4.93%), GTCO (4.74%), STANBIC IBTC (4.41%) and C & I Leasing (4.13%) respectively.(

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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