TUE, 31 MAY, 2022-theGBJournal| Today, the domestic bourse extended losses from the previous session, bringing the All-Share Index down by 0.25% to close at 53,637.14 points.
The extended rout in the market was primarily driven by selloffs in NB (-9.96%), WAPCO (-2.35%) and Tier-1 banks, ZENITHBANK (-1.68%), GTCO (-1.53%) and UBA (-1.90%). Consequently, the ASI’s year-to-date (YTD) return fell to 25.77%, while the market capitalization shed N72.89bn to close at N28.92trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 98.09%. A total of 318.28m shares valued at N3.71bn were exchanged in 5,190 deals. TRANSCORP (+2.46%) led the volume chart with 86.74m units, while MTNN (+0.00) led the value chart in deals worth N1.64bn.
Market breadth closed positive at a 1.18-to-1 ratio with advancing issues outnumbering declining ones. TRANSCOHOT (+6.84%) led nineteen (19) others on the gainers log, while NB (-9.96%) topped sixteen (16) others on the laggard’s table.-Analysis by Coronation Research
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