Stock market declines by 0.24% as MTN sheds weight


July 5, 2024.

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Azonuchechi Chukwu.

Nigerian stock market on Thursday declined as MTN Nigerian and other 24 stocks shed weights.

The All Share Index dropped by 0.24% to close at 100,063.32 points from the previous close of 100,299.48 points.

The Market Capitalisation declined by 0.12% to close at N56.604 trillion from the previous close of N56.734 trillion, thereby shedding N130 billion.

An aggregate of 863.6 million units of shares were traded in 7,931 deals, valued at N12.6 billion.

The Market Breadth closed negative as 24 equities emerged as gainers against 25 equities that declined in their share prices.

Percentage Gainers

OANDO led other gainers with 9.93% growth to close at N15.50 from the previous close of 14.10.

CONOIL, VERITAS KAPITAL and NEIMETH among other gainers also grew their share prices by 9.52%, 9.38% and 8.61% respectively.

Percentage Losers

DAAR COMMUNICATION led other price decliners as it sheds 8.33% of its share price to close at N0.44 from the previous close of N0.48.

UPDCREIT and Guinea Insurance among other price decliners also shed their share prices by 8.26% and 7.69% respectively.

Volume Drivers

Fidelity Bank traded about 539 million units of its shares in 261 deals, valued at N5.66 billion.

GTCO traded about 59 million units of its shares in 508 deals, valued at N2.80 billion.

UBA traded about 36 million units of its shares in 556 deals, valued at N839.6 billion.(

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247news
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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