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As at Tuesday, 17 May 2022, Nigerian equities extended losses from the previous session as the All-Share Index closed 0.36% lower at 52,756.62 points, the lowest level since 11 May.
The market’s weak performance was driven by losses in MTNN (-1.73%), FLOURMILL (-9.20%), and ZENITHBANK (-1.03%). As a result, the year-to-date (YTD) return fell to 23.50%, with the market capitalisation shedding ₦101.36bn to close at ₦28.44trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 55.62%. A total of 1.32bn shares valued at ₦7.72bn were exchanged in 6,449 deals. FCMB (+0.00%) led the volume and value charts with 775.09m units traded valued at ₦2.96bn.
Market breadth closed negative at a 0.74-to-1 ratio, with declining issues outnumbering advancing ones. FLOURMILL (-9.20%) topped twenty-seven (27) others on the laggard’s log, while PZ (+9.96%) led twenty (20) others on the leader’s table.