MIDDAY UPDATE: Nigerian Stocks Gain +0.02% Buoyed by Consumer Goods Counters

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July 13, 2022/InvestmentOne Report

ASI as at 12.00pm: +0.02%

Market movers: CWG (+10.00%), CAVERTON (+9.84%), MULTIVERSE (-10.00%) and REDSTAREX (-9.82%).

Sector Performances: Consumer Goods (+0.39%), Banking (-0.18%), Oil and Gas and Industrial.

Market activity: In today’s trade, total volume and value increased by 71% and 4% respectively, compared to this time last week Friday, as investors have traded about 70million units of shares worth N471million. JAPAULGOLD (-7.41%) is the most actively traded stock thus far with about 21million units of shares accounting for about 30% 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 if the gains recorded in the Consumer Goods sector persists.

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