Tag 20 stocks record losses as market appreciates by n22bn

Here is a possible news article:

Tag 20 Stocks Record Losses as Market Appreciates by N22bn

Despite the overall positive performance of the Nigerian stock market, 20 stocks recorded losses yesterday, with a total loss of N22 billion.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.12% to close at 39,444.42 points, driven by gains in large-cap stocks such as Dangote Cement, Nestle Nigeria, and Guaranty Trust Bank.

However, 20 stocks on the NSE's main board recorded losses, with a total loss of N22 billion. The worst-performing stocks were:

  1. Union Bank of Nigeria (UBN) - N1.4 billion
  2. FBN Holdings (FBNH) - N1.2 billion
  3. Ecobank Transnational Incorporated (ETI) - N1.1 billion
  4. Access Bank (ACCESS) - N1.0 billion
  5. Zenith Bank (ZENITHBANK) - N944 million
  6. United Bank for Africa (UBA) - N844 million
  7. First Bank of Nigeria (FBN) - N744 million
  8. Guaranty Trust Bank (GTB) - N644 million
  9. Stanbic IBTC Holdings (STANBIC) - N544 million
  10. Diamond Bank (DIAMOND) - N444 million
  11. FCMB Group (FCMB) - N344 million
  12. Sterling Bank (STERLNBANK) - N244 million
  13. Union Diagnostic (UDDI) - N144 million
  14. Japaul Gold (JAPAUL) - N104 million
  15. Neimeth International Pharmaceuticals (NEIMETH) - N94 million
  16. Okomu Oil Palm (OKOMUOIL) - N84 million
  17. Presco Plc (PRESSECO) - N74 million
  18. Cutix Plc (CUTIX) - N64 million
  19. Champion Breweries (CHAMPION) - N54 million
  20. Livestock Feeds (LIVESTOCK) - N44 million

The losses were attributed to various factors, including profit-taking, weak earnings, and macroeconomic concerns. Despite the losses, the market remains optimistic, driven by the ongoing economic reforms and the potential for growth in the country's economy.