In the stock market, the week that just ended will always be remembered for its negative trend.

As such, no investor will pray for a reoccurrence of that week in the stock market ever again.


The share price of stocks depreciated and investors had nothing to show for their efforts in the market.

Stock Market Slumps As Investors Lose ₦436.97bn
Stock Market Slumps As Investors Lose ₦436.97bn

Indeed, the stock market recorded a decline for the week ending April 19, 2024, as the All-Share Index (ASI) fell by 2.71% w/w to close at 99,539.75bps.

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Data shows that so far, the ASI has fallen by 4.80% in the month of April 2024, but still up by 33.12% for the year 2024.


In the same vein, the market capitalisation dropped to ₦56.296 trillion. After five trading days of losses, the market closed for the week on a negative note.

Though, activity level for the week was better than the previous week, as traded volume surged by 41.08% w/w to 1.597 billion units of shares from 1.132 billion.

Similarly, trade value rose by 12.79% w/w to ₦32.313 billion from ₦28.650, while the number of deals dropped by 104.89% w/w to 44,915 deals from 21,921 deals.

Financial services sector being the most active, contributed 71.48% of the total volume of trade and 69.39% of the total transaction value.


At a very close distance behind the financial services sector, is the conglomerate and oil and gas sectors respectively.

Access Bank Holdings, UBA and Zenith Bank were the 3 most traded stocks in volume for the week.


They contributed 35.69% and 43.57% of the total volume and value of transactions for the week respectively.

Sectoral Index Performance

Performances across the sectors index for the week are shown below;

Banking -11.46%

Insurance -2.80%

Consumer Goods -0.96%

Oil and Gas -0.00%

Industrial Goods -2.71%

Conglomerates -8.14%

Investor sentiment was also weakened for the week. The market breadth for the week closed negative.

The market reported 13 stocks gained which was lower than the 19 recorded last week while 62 stocks declined in value.

Last Week’s Major Gainers

Morison Industries 45.31%

Guinness Nigeria 10.00%

Academy Press 9.77%

Prestige Assurance 8.93%

Thomas Wyatt 8.63%

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Last Week’s Major Losers

Guaranty Trust Holding Company 19.08%

Unity Bank 19.00%

Livestock Feeds 18.99%

Japaul Gold 18.54%

Chams Holding Company 16.67%


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