Stock market sheds 2.71%, investors’ wealth declines by N1.57trn


April 22, 2024.

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Azonuchechi Chukwu.

Trading on the floor of the Nigerian Exchange last week closed bearish as Dangote Cement, MTN Nigeria and 60 other stocks shed weight.

The All Share Index and Market capitalization dropped by 2.71% to settle at 99,539.75 points and N56.296 trillion respectively.

An aggregate of 1.59 billion units of shares were traded in 44,915 deals, valued at N32.3 billion.

The market breadth closed negative as 13 stocks gained against 62 stocks that declined in their share prices.


MORISON led other gainers in the course of last week with 45.31% growth, closing at N3.72 from the previous close of N2.56.

Guinea Insurance, Academy Press, Prestige Assurance and THOMASWYAT grew their share prices by 10.00%, 9.77%, 8.93%and 8.63% respectively.

Other top 10 gainers include: Nem Insurance (8.38%), Regency Alliance (7.89%), DAAR COMMUNICATION (7.69%), Royal Exchange (4.69%) and Secure Electronic Technology (3.45%) respectively.


GTCO led other price decliners, shedding 19.08% of its share price to close at N33.50 from the previous close of N41.40.

Unity Bank, Livestock Feeds, JAPAULGOLD and CHAMS shed their share prices by 19.00%, 18.99%, 18.54% and 16.67% respectively.

Other price decliners include: CAVERTON (15.73%), Sunu Assurance (15.25%), Jaiz Bank (14.98%), THE INITIATE (14.89%) and CWG (14.69%) respectively.(

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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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