The month of April 2024 is a month stock market investors will never pray to experience again.

The stock market investors who lost so much and gained little in the market will want to forget about the month of April in a hurry.


A recap shows that not only did investors lose, the market capitalisation and All-share index also depreciated.

Stock Market Lost ₦‎3.6trn In April 2024
An image of brokers trading in the Nigerian stock market

Have you ever had a bad day that you wish to forget or not be reminded about?

Well, that is what the month of April sounds like to stock market investors.

Investors Lost ₦3.6 Trillion 

Investors in the equity market segment of the Nigerian Exchange Limited (NGX) lost approximately ₦‎3.6 trillion in April 2024.


Have You Read: Stock Market Investors Lose ₦‎35bn

Investors trading stocks had sustained profit-taking amid 2023 financial year dividend payout by some companies in the market.

The overall market capitalisation dipped by 6.03% or ₦‎3.6 trillion to close at ₦‎55.55 trillion, from ₦‎59.120 trillion it opened for trading in April 2024.

Similarly, the All-Share Index closed April 2024 at 98,225.63bps, dropping 6.06% or 6,336bps from 104,562.06bps it closed trading for March 2024.


NGX Banking Index Dropped 25.5%

The NGX Banking Index closed the month of April 2024 at 774bps, dropping 25.5% from 1,029.63bps it opened for trading.

NGX Industrial Index was also affected in April 2024 with a decline of 4,841.20bps or 15.4% to close at 4,686.98bps.


A stockbroker and financial analyst, Charles Fakrogha explained that the market began declining after recapitalisation announcement.

Fakrogha said, “we are not sure that the policy is behind the decline in the prices of banks stock since that announcement was made.

“I think the major factor should be the fact that banks were restrained from good paying dividends in line with their extraordinary income.”

Consumer Goods Slumped By 6.5%

Meanwhile, the NGX Consumer Goods Index dropped to 1,546bps as at the end of April 2024, from 1,610.80bps at the end of March 2024.

This represents a 6.5% decline while NGX Oil/Gas Index closed April 2024 at 1,267.98bps, with a decline of 2,64%.

You May Also Like: Common Stock Market Terms That Investors Should Know

According to data, in the first four months of 2024, investors’ return has appreciated by 31.36% from 74,773.77bps to 98,225.63bps as of April 30, 2024.

At 31.36% the Nigerian stock market investors return, is still one of best performing Exchanges in Africa.


Leave a ReplyCancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.