Home Life Style Weekly Stock Update: Nigerian Alternate Neighborhood closes bearish, loses 2.68% w-o-w

Weekly Stock Update: Nigerian Alternate Neighborhood closes bearish, loses 2.68% w-o-w

by Good News

Good News – The Nigerian equities market reversed its bullish stance to shut bearish reliable by the week because the All-Portion index misplaced 2.68% within the week ended 17th June 2022. Right here’s following the 0.55% development recorded within the old week.The decline within the native bourse would possibly possibly well be attributed to the MPC resolutions which seen MPR produce bigger by 150 bps, therefore resulting in profit-taking within the stock market, to take care of positions in elevated yield instruments.Right here’s per the uncomplicated job contained within the weekly stock market report, launched by the Nigerian Alternate Neighborhood.The benchmark index, ASI depreciated by 2.68% from 53,201.38 aspects recorded as of the cease of closing week to shut the week at 51,778.08 index aspects, while the market capitalization followed swimsuit to shut at N27.91 trillion.This brings the month-to-date performance of the Nigerian stock market to –2.29% and a yr-to-date make of 21.21%.Fairness market performanceA total of 940.89 million shares valued at N11.49 billion were traded reliable by the week across 20,077 affords on the bottom of the Alternate. Right here’s decrease than the 1.8 billion devices of shares valued at N19.49 billion that exchanged fingers within the old week in 21,723 affords.Such as the old week, the Monetary Products and services Industry led the thunder chart by methodology of quantity of shares traded with 692.33 million shares valued at N6.22 billion traded in 10,615 affords; hereby contributing 73.58% and 54.12% to the total fairness turnover quantity and worth respectively.The Conglomerates Industry followed with 89.87 million shares worth N246.06 million in 764 affords, while the Client Items Industry, stood in third place with a turnover of 54.23 million shares worth N1.23 billion in 2,923 affords.Trading within the tip three equities by quantity particularly UBA Plc, Sterling Monetary institution Plc, and Transcorp Plc accounted for 304.84 million shares worth N1.29 billion in 2,103 affords, contributing 32.39% and 11.18% to the total fairness turnover quantity and worth respectively.Equally, all diversified indices carried out decrease with the exception of NGX Growth Index. While NGX ASeM Index remained unchanged.TOP GAINERSLEARNAFRI up +15.74% to shut at N2.50SUNUASS up +9.37% to shut at N0.35TRIPPLEGEE up +9.20% to shut at N0.95ELLAHLAKES up +8.40% to shut at N4.00LIVINGTRUST up +5.26% to shut at N1.20TOP LOSERSLIVESTOCK down – 16.88% to shut at N1.33INTBREW down –14.97% to shut at N6.25CUTIX down –10.74% to shut at N2.41MEYER down –10.00% to shut at N2.79CONOIL down –10.00% to shut at N28.80SummaryThirteen (13) equities appreciated in mark reliable by the week, decrease than twenty-9 (29) equities within the old week. Fifty-one (51) equities depreciated in mark elevated than thirty-six (36) equities within the old week, while ninety-two (92) equities remained unchanged elevated than ninety-one (91) equities recorded within the old week.Connected

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