In the last trading session of the week, Friday, May 20, 2022, the domestic bourse succumbed to sell pressure as the All-Share Index declined by 0.55% to close at 52,979.96 points. On market movers, profit taking in MTNN (-7.78%) and renewed selloffs in ZENITHBANK (-0.82%) and GTCO (-0.84%) weighed on the market’s overall performance.
Having gained in just one (1) of five (5) trading sessions this week, the ASI closed 0.55% lower w/w, its first weekly loss in five weeks. Selloffs in MTNN (-4.82% w/w), FLOURMILL (-10.74% w/w) and WAPCO (-8.28% w/w) were the major drags on the overall market. Consequently, the year-to-date (YTD) return fell to 24.03%, while the market capitalization shed ₦64.83bn w/w to close at ₦28.56trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 61.85%. A total of 436.57m shares valued at ₦3.22bn were exchanged in 4,716 deals. JAIZBANK (+8.43%) led the volume chart with 142.36m units traded, while AIRTELAFRI (+5.00%) led the value chart in deals worth ₦1.03bn.
Market breadth closed positive at a 1.1-to-1 ratio with advancing issues outnumbering declining ones. NEIMETH (+10.00%) led twenty-six (26) others on the leader’s log, while LEARNAFRICA (-10.00%) topped twenty-three (23) others on the laggard’s table.
Find below key highlights of market activities.
