Bearish trend persists on NGX as market sheds N784bn

Date:

April 29, 2024.

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Azonuchechi Chukwu.

Trading on the floor of the Nigerian stock market last week closed on a bearish note as profit taking persist, thereby shedding N784 billion, week to date.

The All Share Index and Market capitalization plunged by 1.39% to settle at 98,152.91 points and N55.512 trillion respectively.

An aggregate of 1.8 billion units of shares were traded in 37,528 deals, valued at N34 billion.

The market breadth closed negative as 27 stocks gained against 43 stocks that declined in their share prices.

TOP 10 GAINERS

Sunu Assurance led other gainers in the course of last week with 25.000% growth, closing at N1.25 from the previous close of N1.00.

CAP, Livestock Feeds, JAPAULGOLD and UNILEVER grew their share prices by 20.21%, 14.48%, 14.37%and 11.03% respectively.

Other top 10 gainers include: NEIMETH 10.00%, UPDC 9.76%, UACN 9.25%, WAPCO 9.09% and Fidelity Bank 8.82% respectively.

TOP 10 LOSERS

OANDO led other price decliners, shedding 19.57% of its share price to close at N9.25 from the previous close of N11.50.

Sovereign Trust Insurance, THOMASWYAT, FBNH and Wema Bank shed their share prices by 18.18%, 16.82%, 16.25% and 12.59% respectively.

Other price decliners include: NESTLE (11.63%), THE INITIATE (10.00%), Honeywell Flour (9.89%), MTN Nigeria (9.82%) and Regency Alliance (9.76%) respectively.(www.naija247news.com).


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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. 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 Naija247news.com 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 Naija247news.com'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 Naija247news.com'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 Naija247news.com team.

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