On April 29th, the Nigerian stock market concluded trading on a down note, with the All-Share index dropping by 192.96 points to settle at 105,931.18.
This marks a decline of 0.18% from the previous day’s close of 106,124.14, as the index slipped below the 106,000-threshold.
Daily trading volume saw a significant increase, surging to 733 million shares, up from 500 million shares reported the day before.
However, market capitalization witnessed a slight decline, falling from N66.6 trillion to N66.5 trillion, accompanied by a total of 16,619 transactions.
In terms of performance, LEGENDINT and ABCTRANS topped the gainers’ list, rising by 10.00% and 9.94%, respectively.
Conversely, LIVESTOCK and MULTIVERSE experienced notable declines, falling by 9.71% and 9.62%, respectively. Among the most actively traded stocks, FIDELITYBK and MTNN led the volume table.
Daily trading volume experienced a notable increase, rising to 733 million shares, compared to 500 million shares reported the previous day.
In the SWOOT category, MTNN saw a decline of 6.07%.
Despite the daily decline, the All-Share Index is in recovery mode as it stages corrections above the 105,500 zone. The anticipated rebound in large- and mid-cap stocks is expected to play a crucial role, as positive price action from reactions to favorable market results seeps into the market.