Stock Market Extends Down Trend, All Share Index Drops By 0.13%


May 16, 2024.

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Azonuchechi Chukwu.

Nigerian stock market on Wednesday extended its downtrend to four straight sessions on profit taking by investors.

The All Share Index dropped by 0.13% to close at 97,343.42 points from the previous close of 97,473.98 points.

The Market Capitalisation declined by 0.13% to close at N55.058 trillion from the previous close of N55.132 trillion, thereby shedding N74 billion.

An aggregate of 355.6 million units of shares were traded in 7,333 deals, valued at N7 billion.

The Market Breadth closed negative as 13 equities emerged as gainers against 30 equities that declined in their share prices.

Percentage Gainers

CUSTODIAN led other gainers with 9.63% growth to close at N10.25 from the previous close of 9.35.

International Energy Insurance and Sovereign Trust Insurance among other price decliners also shed their share prices by 9.29% and 7.89% respectively.

Percentage Losers

FTN Cocoa and PZ led price decliners as they shed 10.00% each, closing at N1.44 and N20.24 respectively.

Sterling Bank and THE INITIATES among other price decliners also shed their share prices by 9.89% and 9.78% respectively.

Volume Drivers

GTCO traded about 71.9 million units of its shares in 544 deals, valued at N3 billion.

ACCESSCORP traded about 24 million units of its shares in 653 deals, valued at N416.7 million.

TANTALIZER traded about 21 million units of its shares in 214 deals, valued at N12 million.(

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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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