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‘Deprecation’Bears reign supreme in stock market as valuation dips by N16 billion

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‘Deprecation’Bears reign supreme in stock market as valuation dips by N16 billion

The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 6 basis points.  

The NGX ASI closed at 51,556.54 points to reflect a decline of 0.06% from the previous trading day and a Year-to-Date (YTD) return of 20.69%. Meanwhile, the market capitalization declined by N16.15 billion.  

At the close of the market on Wednesday, the 6th of July 2022, the stock exchange market value currently stands at N27.79 trillion at the end of the trading day.  

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The market breadth closed positive as ACADEMY led 17 gainers and 16 losers, topped by CHAMPION at the end of the day’s session.  

The stock market has advanced 8,840.10 base points since the start of the year.  

NGX Top ASI gainers  

  • ACADEMY up +9.79% to close at N1.57 
  • CHIPLC up +8.70% to close at N0.75 
  • JAPAUL up +7.41% to close at N0.29 
  • UPDCREIT up +4.35% to close at N3.60 
  • CHAMS up +4.17% to close at N0.25 

NGX Top ASI losers  

  • CHAMPION down – 10.00% to close at N3.60 
  • NEM down – 10.00% to close at N3.42 
  • UBN down – 9.76% to close at N5.55 
  • UPL down – 8.91% to close at N2.35 
  • RTBRISCOE down – 7.50% to close at N0.37 

NGX ASI Top Traded by Volume  

  • TRANSCORP – 15,551,438 
  • GTCO – 13,110,865 
  • UPDC – 11,966,541 

NGX ASI Top Traded by Value  

  • GTCO – N267,085,162.30 
  • AIRTEL – N210,978,850.80 
  • ZENITHBANK – N156,977,389.95 

Market sentiment trend towards the bears with the market differential being in favour of the advancers as 17 gainers surpassed 16 losers.  

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