Nigerian Stock Market Dips Slightly During Easter Period

During the Easter festive period, the Nigerian stock market recorded a slight decline, with the Nigerian Exchange Limited share index (NGX ASI) losing 4.66 basis points, equivalent to a 0.002% decrease, closing at 201,698.89 basis points. The market capitalization fell by N3 billion, bringing it to N129.806 trillion.

Despite the overall decline, market breadth remained positive, with 33 stocks advancing compared to 24 that declined. Unilever Nigeria led the gainers with a 10% increase, closing at N103.40 per share, followed by Forti Global Insurance with a 9.82% gain, closing at N1.23.

Other notable gainers included Multiverse Mining Exploration (9.81% increase, closing at N20.15) and Legend Internet (9.38% increase, closing at N6.30). Conversely, John Holt topped the losers' chart with a 9.91% decline, closing at N15.45, followed by Abbey Mortgage Bank (9.60% decline, closing at N8.95).

The total volume of trade decreased by 31.33%, totaling 559.977 million units valued at N19.263 billion across 49,676 deals. The next trading session is anticipated to see a renewed appetite from investors.