Stock market declines by 0.89% amidst profit taking

Date:

May 7, 2024.

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Azonuchechi Chukwu.

Nigerian stock market on Monday declined admits profit taking in 18 stocks,

The All Share Index dropped by 0.89% to close at 98,703.68 points from the previous close of 99,587.25 points.

The Market Capitalisation declined by N500 billion to close at N55.823 trillion from the previous close of N56.323 trillion.

An aggregate of 421.7 million units of shares were traded in 10,624 deals, valued at N8.95 billion.

The Market Breadth closed positive as 38 equities emerged as gainers against 18 equities that declined in their share prices.

Percentage Gainers

The Insurance stocks of Guinea and Cornerstone led other price decliners as they shed 10.00% each of their share prices.

OANDO, NASCON and Wema Bank among other price decliners also shed their share prices by 9.94%, 9.94 and 9.42% respectively.

Percentage Losers

Airtel Africa tops decliners, shedding 10.00% of its price to close at N1,980.00 from the previous close of N2,200.00.

Berger Paints and IMG among other gainers also shed their share prices by 9.85% and 9.82% respectively

Volume Drivers

ACCESSCORP traded about 98 million units of its shares in 1,209 deals, valued at N1.76 billion.

UBA traded about 40 million units of its shares in 839 deals, valued at N1.07 billion.

GTCO about 35.9 million units of its shares in 740 deals, valued at N1.49 billion.(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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