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Headline : NGX reverses last week’s gain as Airtel Africa loses big

Read more from the original article on here at nairametrics.com.






Tags : #ngx #reverses #last #weeks #gain #airtel #africa #loses #big


No. of Paragraph 24

This week started on a bearish note in the Nigerian Exchange (NGX), which posted a 0.89% decline to close today with an All-Share Index of 98,703.68 points, marking an 883.57-point decline from last Friday’s 99,587.25 points.

The decline in the market was driven majorly by the 10% fall in the Airtel Africa share value. However, market breadth was positive as 38 stocks recorded gains, in contrast with 18 that recorded losses.

During the day, the leading gainers were Cornerstone Insurance, Guinea Insurance, and Oando which gained 10%, 10%, and 9.94% respectively.

Cornerstone and Guinea Insurance led the gainers’ chart with 10% gains each, followed by Oando with a 9.94% gain. Since Oando released its FY 2022 financial results on April 23, the group’s share price has declined by 1.5%, reflecting investors’ pessimism about the group’s financial performance.

Read more from the original article on here at nairametrics.com.


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