Business Hilights
Tracking Nigeria's Headline Business News Online

NGX All-Share Index sheds 7bps

Yesterday, Wednesday, 18 May 2022, the Nigerian equities extended losses from the previous session as the All-Share Index slipped by 0.07% , its third consecutive decline, to close at 52,721.34 points, a one-week low.

On market movers, the weak performance was driven by losses in FBNH (-3.24%), ZENITHBANK (-2.41%), and TRANSCORP (-2.41%). As a result, the year-to-date (YTD) return fell to 23.42%, with the market capitalization shedding ₦19.02bn to close at ₦28.42trn.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 3.86%. A total of 611.97m shares valued at ₦7.43bn were exchanged in 5,948 deals. FBNH (-3.24%) led the volume and value charts with 153.34m units traded valued at ₦1.9bn.

Market breadth closed negative at a 0.87-to-1 ratio, with declining issues outnumbering advancing ones. ACADEMY (-9.93%) topped twenty-three (23) others on the laggard’s log, while TRANSCOHOT (+9.84%) led twenty (20) others on the leader’s table.