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Business News of Wednesday, 29 June 2022


Nigerian stocks lose over N85 billion in a day

NGX Group NGX Group

The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 31 basis points.

The NGX ASI closed at 51,803.98 points to reflect a decline of 0.31% from the previous trading day and a Year-to-Date (YTD) return of 21.27%. Meanwhile, the market capitalization declined by N85.65 billion.

At the close of the market on Tuesday, the 28th of June 2022, the stock exchange market value currently stands at N27.93 trillion at the end of the trading day.

The market breadth closed negative as SOVRENINS led 10 gainers and 19 losers, topped by UPL at the end of the day’s session.

The stock market has advanced 9,087.54 base points since the start of the year.

NGX Top ASI gainers

SOVRENINS up +8.00% to close at N0.27
CHAMS up +4.17% to close at N0.25
REGALINS up +3.85% to close at N0.27
ETI up +3.29% to close at N11.00
OKOMU up +3.29% to close at N216.90

NGX Top ASI losers

UPL down – 9.72% to close at N2.60
NGXGROUP down – 6.71% to close at N22.95
CAVERTON down – 4.76% to close at N1.00
LIVESTOCK down – 3.57% to close at N1.35
FIDELITY down – 3.53% to close at N3.28

NGX ASI Top Traded by Volume

LIVINGTRUST – 100,000,000
MTNN – 42,902,336
FBNH – 19,834,499

NGX ASI Top Traded by Value

MTNN – N9,868,121,351.80
NESTLE – N834,653,348.30
SEPLAT – N411,189,542.40

Market sentiment trend towards the bears with the market differential being in favour of the decliners as 10 gainers were surpassed by 19 losers.

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