Prime Business AfricaThe Nigerian stock market suffered a decline on Wednesday, April 9, as the market capitalization dropped to N65.47 trillion from N65.58 trillion the previous day.
The all-share index (ASI) also depreciated by 189.73 basis points to 104,187, resulting in a 0.18% decline in the total value of the market.
Join our WhatsApp ChannelThe decline was largely attributed to a decrease in demand for Ecobank and PZ Cussons shares, among others.
This represents a loss of N119.22 billion or 0.18 percent decline in the total value of the Nigerian stock market, following a decrease in the all-share index (ASI), which depreciated by 189.73 basis points to 104,187 ASI, from 104,376.73 index.
Data obtained from the Nigerian Exchange Limited (NGX) showed a slight increase in the value of shares traded, as investors exchanged 376.61 million shares, worth N11.88 billion, in 11,576 deals at the end of trading, compared to the 460.56 million shares, worth N10.10 billion, traded in 14,528 deals on Tuesday.
Top five gainers
Livestock’s share price increased by N0.73 kobo to rise from N7.30 kobo to N8.03 per share.
VFD Group’s share value grew by N6.60 kobo, up from N66 to N72.60 kobo per share.
NGX Group ended trading with N35.65 kobo, from N32.45 kobo per share – indicating an increase of N3.20 kobo.
Wapic gained N0.17 kobo to end trading at N1.94 kobo, having opened with N1.77 kobo.
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Union Dicon’s share value was up by N0.55 kobo, closing with N6.35 kobo from N5.80 kobo per share.
Top five losers
Haldane McCall’s share price depreciated by N0.58 kobo, dwindling from N5.80 kobo to N5.22 kobo per share.
Learn Africa recorded a N0.33 kobo decline in its share price to end trading at N2.97 kobo after opening with N3.30 kobo per share.
Ecobank lost N2.95 kobo in its share price after trading hours, to sell at N26.85 kobo from N29.80 kobo per share.
PZ Cussons reported a decline of N3.30 kobo from the previous day’s share price of N33.40 kobo to end trading at N30.10 kobo per share.
Unilever recorded a N3.75 kobo decline in its share price to end trading at N34.70 kobo after opening with N38.45 kobo per share.
Top five trading equities in the stock exchange
GTCO reported that 62.88 million shares valued at N4.09 billion were traded on its floor.
Access Corporation recorded 51.37 million shares valued at N1.05 billion.
Zenith Bank saw investors trade 32.32 million of its shares valued at N1.51 billion.
UBA recorded 22.56 million shares exchanged on its floor, worth N775.15 million.
Mutual Benefit reported 18.19 million shares valued at N16.61 million exchanged in investors’ hands.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
