MIDDAY UPDATE: Nigerian Stocks Gain +0.08%, Driven by Banking Counters

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June 24, 2022/InvestmentOne Update

ASI as at 12.00pm: +0.08%

Market movers: MAYBAKER (+8.47%), JAPAULGOLD (+6.90%), UNITYBNK (-6.12%) and LIVESTOCK (-5.84%).

Sector Performances: Banking (+0.30%), Consumer Goods (-0.87%), Oil and Gas (-0.09%) and Industrial.

Market activity: In today’s trade, total volume and value decreased by 19% and 32% respectively, compared to this time yesterday, as investors have traded about 52million units of shares worth N680million. OANDO (-0.68%) is the most actively traded stock thus far with about 8million units of shares accounting for about 15% of the total volume.

Likely close: In the absence of significant losses in the prices of DANGCEM, MTNN and AIRTELAFRI, the market should close in green today if the northward movement seen in the Banking sector persists.

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