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    Equity Market Halts Uptrend to Record First Decline in the year

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

    The Nigeria equities market halted the eight consecutive trading sessions uptrend to record the first decline in 2022 as the All-Share Index dipped 0.09 percent following profit-taking blue-chip stocks.

    As a result, the market index (All-Share Index) tanked by 37.83 basis points, representing a plunge of 0.09 percent to close at 43,859.30.

    While the Market Capitalization lost ₦20.83Bn, representing a dip of 0.09 percent to close at ₦23.63 trillion.

    → Similarly, the market activities traded negatively as the Total Volume and Value traded dropped by 5.37 percent and 21.69 percent, respectively.

    294.54 million units valued at ₦6.77 billion were transacted in 4,501 Deals.

    Meanwhile, TRANSCORP led the traded stocks in terms of volume, accounting for 19.81 percent of the total volume of trades, followed closely by BUAFOODS (17.49%), FBNH (5.60%), GTCO (4.77%), and ACCESS (4.53%) to complete the top five on the volume chart.

    While, BUAFOODS remained the most traded stock in value terms, with 48.99 percent of the total value of trades on the exchange.

    → On the profitability chart, BUAFOODS sustained its top position to led the gainers’ chart with price appreciation of 10.00 percent, trailed by ETERNA (5.09%), UBN (4.63%), OANDO (2.83%), GUINNESS (2.76%), LIVESTOCK (0.96%), AFRIPRUD (0.78%), SEPLAT (0.75%), FLOURMILL (0.71%), MTNN (0.27%), ZENITHBANK (0.20%) and six (6) others.

    Conversely, twenty-six (26) stocks declined in price, led by MBENEFIT with price depreciation of 10.00 percent to close at ₦0.37 as NESTLE (-7.81%), NB (-5.21%), NGXGROUP (-4.30%), UBA (-1.82%), NASCON (-1.14%), WAPCO (-0.96%), UCAP (-0.88%), DANGCEM (-0.38%) and GTCO (-0.20%) also dipped in price.

    Consequently, the market breadth closed negatively, recording 17 gainers and 26 losers.

    → Furthermore, the sector performance was relatively negative, as three of the five major sectors plunged, led by Consumer Goods (-4.76%), Insurance (-2.14%) and Industrial Goods (-0.27%), respectively.

    While Oil & Gas (0.95%) and Banking (0.16%) rose compared to the last session.

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