Domestic equities bounced back Thursday, 19 May 2022, from losses earlier in the week, as the benchmark All-Share Index surged 1.05% to close at 53,275.49 points, the highest level since 16 July 2008.
On market movers, sustained investor interest in MTNN (+5.68%), alongside a recovery in STANBIC (+4.55%) and ACCESSCORP (+2.06%), and an uptick in WAPCO (+1.59%) buoyed the broader index. As a result, the year-to-date (YTD) return rose to 24.72%, with the market capitalisation increasing by ₦298.75bn to close at ₦28.72trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 13.75%. A total of 274.56m shares valued at ₦8.45bn were exchanged in 5,184 deals. TRANSCORP (-6.77%) led the volume chart with 48.38m units while MTNN (+5.68%) led the value chart at ₦5.49bn.
Market breadth closed negative at a 0.71-to-1 ratio, with declining issues outnumbering advancing ones. CONOIL (-10.00%) topped twenty-eight (28) others on the laggard’s log, while TRANSCOHOT (+9.89%) led twenty (20) others on the leader’s table.
