The Business NG - June 07, 2024

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BusinessNG reports that the Nigerian Exchange suffered a loss of N85 billion on Thursday as investors sought to capitalize on recent gains by selling their stocks. Despite increased market activity and higher total volume and value traded, the equities market index fell by 149.53 basis points to close at 99,134.85. The decline was driven by profit-taking in the banking and consumer goods sectors, resulting in 18 stocks losing value and 17 stocks gaining. OANDO led the gainers with a 9.77% price increase, while MAYBAKER was the biggest loser with a -10.00% price drop. The insurance sector saw a 1.66% growth, and the oil and gas sector gained 0.28%. In contrast, the banking and consumer goods sectors fell by -1.30% and -0.09%, respectively, while the industrial sector remained unchanged.