Local Bourse Halts Bearish Run, as Investor’s Wealth Grew by N65 Billion


TThe Nigerian domestic market closed trading activities for today, Wednesday (24th August 2022) positive after five days of successive market downturn, as the market performance indicators (NGX-ASI and Market Capitalization) grew by 0.25%.

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Consequently, the market index (All-Share Index) rose by 120.57 basis points, representing an increment of 0.25 percent to close at 48,675.33.

The Market Capitalization gained ₦65.03 bn, representing a rise of 0.25% to close at ₦26.25 trillion from ₦26.19 trillion.

However, market activities were mixed when compared to the previous trading day as the Total Volume traded for the day declined by 17.92%, while the Total Value increased by 5.98%.

Approximately 167.57 million units valued at ₦3.37 billion were transacted in 3,751 Deals.

ACCESSCORP was the most traded stock in terms of volume, accounting for 16.67 percent of the total volume of trades, followed by UBA (13.71%), FBNH (13.45%), GTCO (9.61%), and ZENITHBANK (5.47%) to complete the top five on the volume chart.

Also, MTNN emerged as the most traded stock in value terms, with 21.50 percent of the total value of trades on the exchange.

NEM topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by STANBIC (8.93%), ETI (8.00%), CUTIX (7.37%), JAPAULGOLD (6.90%), MEBENEFIT (6.90%), WAPIC (5.26%) and seven (9) others.

On the Contrary, fifteen (11) stocks depreciated, topped by FIDSON with a price depreciation of 9.80% to close at ₦9.11, as FTNCOCOA (-9.09%), UNITYBNK (-2.33%), FCMB (-2.19%), AIICO (-1.79%), CHIPLC (-1.59%), ACCESSCORP (-1.20%) and GTCO (-0.50%) also dipped in price.

In that regard, the market breadth closed positive, recording 16 gainers and 11 losers.

Conclusively, the sector performance was also positive as all the major market sectors closed bullish, led by Insurance (+2.17%), trailed by Banking (+0.56%), Industrial (+0.47%), Oil & Gas (+0.16%), and the Consumer goods Sector (+0.09%).
Best 10 Performers

Editorial Staff
Editorial Staffhttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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