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Nigeria’s stock market closes week on bearish note, loses over N300 billion

The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 121 basis points.

The NGX ASI closed at 51,778.08 points to reflect a decline of 1.21% from the previous trading day and a Year-to-Date (YTD) return of 21.21%. Meanwhile, the market capitalization declined by N341.26 billion.

At the close of the market on Friday, the 17th of June 2022, the stock exchange market value currently stands at N27.91 trillion at the end of the trading day.

The market breadth closed negative as ELLAHLAKES led 10 gainers and 24 losers, topped by MCNICHOLS at the end of the day’s session.

The stock market has advanced 9,061.64 base points since the start of the year.

NGX Top ASI gainers 

  • ELLAHLAKES up +8.40% to close at N4.00
  • UACN up +6.48% to close at N11.50
  • LIVINGTRUST up +5.26% to close at N1.20
  • MBENEFIT up +4.17% to close at N0.25
  • FIDELITY up +3.37% to close at N3.37

NGX Top ASI losers 

  • MCNICHOLS down – 9.76% to close at N1.85
  • ARDOVA down – 9.70% to close at N13.5
  • LIVESTOCK down – 9.52% to close at N1.33
  • INTBREW down – 9.42% to close at N6.25
  • COURTVILLE down – 9.26% to close at N0.49

NGX ASI Top Traded by Volume 

  • JAIZBANK – 40,661,801
  • UBA – 35,717,860
  • ZENITH – 33,199,949

NGX ASI Top Traded by Value 

  • ZENITHBANK – N718,990,913.35
  • BUACEMENT – N681,926,288.10
  • AIRTEL – N467,447,399.00

Market sentiment trends towards the bears with the market differential being in favour of the decliners as 10 gainers were surpassed by 24 losers.

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