The Nigerian Stock Market may again be treading on the path of losses after the previous week ended on an unfruitful note.
Investors were ushered into the new week with a market capitalisation decline of ₦154 billion as the All-share index dipped by 0.19%.
It may not be out of place to say that loss is fast becoming a trend in the stock market.
Appreciation in the share price of 19 stocks failed to lift the stock market into the green zone.
Stock market transactions, on Monday, April 29, 2024, closed the first day of the week on a negative note.
Although the share prices of Tantalizers Plc, Honeywell Flour Mills and FBN Holdings surged, the market ended in the red zone.
The All-Share Index declined by 0.19%, settling at 97,962.24 from the previous close of 98,152.91.
Similarly, the market capitalisation shed ₦154 billion to close ₦55.404 trillion.
This brings the year-to-date to 31.08%, the month-to-date to negative 6.32%, and the week-to-date to negative 0.19% respectively.
An aggregate of 268,680,541 units of shares were traded in 8,572 deals valued at ₦4.974 billion.
Share Price Gainers And Losers
Sterling Financial Holding Plc led other gainers with 9.95% growth to close at ₦4.20 from its previous price of ₦3.82.
FBN Holdings, Honeywell Flour Mills, and Tantalizers Plc grew their share prices by 9.85%, 9.40%, and 9.09% respectively.
Dangote Sugar Refinery and Secure Electronic Technology Plc shed 10% each off their share prices to close at ₦43.20 and ₦0.54.
CAP, Berger Paints, and Presco Plc amongst other losers also shed their share prices by 9.88%, 9.87%, and 9.72% respectively.
Volume Drivers
United Bank for Africa (UBA) Plc traded about 34.563 million units of its shares in 646 deals, valued at ₦799.449 million.
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The Initiate Plc Plc traded about 25.581 million units of its shares in 38 deals, valued at ₦46.158 million.
Access Holdings Plc traded about 19.396 million units of its shares in 364 deals, valued at ₦269.103 million.
