Stock market dips by 0.53% as 24 stocks shed weight

Date:

May 14, 2024.

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Azonuchechi Chukwu.

The stock market on Monday closed on a bearish note, occasioned by profit taking in 24 stocks.

The All Share Index dipped by 0.53% to close at 97,709.38 points from the previous close of 98,233.76 points.

The Market Capitalisation closed at N55.265 trillion, down by 0.53% from the previous close of N55.562 trillion, thereby shedding N297 billion.

An aggregate of 439 million units of shares were traded in 8,607 deals, valued at N11 billion.

The Market Breadth closed negative as 19 equities emerged as gainers against 24 equities that declined in their share prices.

Percentage Gainers

THE INITIATES and TANTALIZER led other gainers with 8.70% growth each, closing at N2.50 and N0.50 from N2.30 and N0.46 respectively.

Sterling Bank and Ikeja Hotel among other gainers also grew their share prices by 5.38% and 5.37% respectively.

Percentage Losers

SEPLAT led other price decliners shedding 10.00% of its share price to close at N2,962.30 from the previous close of N3,291.40.

PZ, ETRANZACT and Unity Bank dropped their share prices by 9.91%, 9.68% and 8.20% respectively.

Volume Drivers

NOTORE traded about 74 million units of its shares in 1 deal, valued at N4.65 billion.

ACCESSCORP traded about 43 million units of its shares in 832 deals, valued at N749.9 million.

UBA traded about 37 million units of its shares in 654 deals, valued at N903 million.(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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