The Nigeria Equity Market closed for today, Friday (29/07/2022) bullish, as the NGX rises by 1.42% to 50,370.25 from 49,667.14 indicating a YTD return of +17.92%.
Similarly, the market capitalization increased by N379.16 billion to N27.16 trillion from N26.78 trillion.The market turnover decreased to N2.81 billion from N3.92 billion.
The market breadth was positive at 1.92x, as 25 stocks advanced and 13 stocks declined, while 59 remained unchanged. UBN topped the gainers’ list with +10.00%, while PZ dropped by -9.57% to lead the losers’ chart.
Also, ZENITH recorded the highest volume of trade and FLOURMILL recorded the highest value of trade for the day.
Top 7 Gainers
| Security | Previous Close | Close Price | Change Price | % Change |
| UBN | 5.00 | 5.50 | 0.50 | 10.00 |
| MULTIVERSE | 1.71 | 1.88 | 0.17 | 9.94 |
| UCAP | 10.10 | 11.10 | 1.00 | 9.90 |
| TRANSCORP | 1.02 | 1.12 | 0.10 | 9.80 |
| NGXGROUP | 20.00 | 21.95 | 1.95 | 9.75 |
| FIDELITYBK | 2.90 | 3.18 | 0.28 | 9.66 |
| JAPAULGOLD | 0.21 | 0.23 | 0.02 | 9.52 |
Top 7 Losers
| Security | Previous Close | Close Price | Change Price | % Change |
| PZ | 9.40 | 8.50 | -0.90 | -9.57 |
| CAVERTON | 1.10 | 1.00 | -0.10 | -9.09 |
| WEMABANK | 3.59 | 3.29 | -0.30 | -8.36 |
| ACADEMY | 2.00 | 1.85 | -0.15 | -7.50 |
| COURTVILLE | 0.43 | 0.40 | -0.03 | -6.98 |
| LINKASSURE | 0.58 | 0.54 | -0.04 | -6.90 |
| CHAMPION | 3.85 | 3.65 | -0.20 | -5.19 |
OUTLOOK
Equity market closes the week positive; despite persistent sell-offs witnessed during the week. This is likely due to positive sentiments motivated by the recent release of companies’ Q2 financial statements. We expect investors to continue to react as more companies disclose their Q2 performance in the coming weeks.
