Bearish trend persists in the stock market as PRESCO leads losers

The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 13 basis points.

The NGX ASI closed at 52,911.51 points to reflect a decline of 0.13% from the previous trading day and a Year-to-Date (YTD) return of 23.87%. Meanwhile, the market capitalization declined by N36.90 billion.

At the close of the market on Monday, the 23rd of May 2022, the stock exchange market value currently stands at N28.53 trillion at the end of the trading day.

The market breadth closed positive as CONOIL led 22 gainers and 24 losers, topped by PRESCO at the end of the day’s session.

The stock market has advanced 10,195.07 base points since the start of the year.

NGX Top ASI gainers 

  • CONOIL up +9.95% to close at N34.25
  • MRS up +9.93% to close at N14.95
  • MCNICHOLS up +9.86% to close at N2.34
  • ACADEMY up +9.76% to close at N1.35
  • NPFMCRFBNK up +8.02% to close at N2.02

NGX Top ASI losers

  • PRESCO down – 10.00% to close at N180.00
  • GSPECPLC down – 9.97% to close at N3.07
  • NEIMETH down – 9.66% to close at N1.59
  • UACN down – 8.33% to close at N13.20
  • NEM down – 7.74% to close at N4.05

NGX ASI Top Traded by Volume

  • JAIZBANK – 114,007,816
  • GTCO – 12,872,851
  • TRANSCORP – 12,806,324

NGX ASI Top Traded by Value 

  • PRESCO – N1,185,169,180.75
  • MTNN – N450,145,897.40
  • GTCO – N302,842,620.75

Market sentiment trends towards the bears with the market differential being in favour of the decliners as 22 gainers were surpassed by 24 losers.

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