WED, 25 MAY, 2022-theGBJournal| The NGX Exchange bounced back today, paring some of yesterday’s losses, as the benchmark All-Share Index surged 1.24% – its largest single-day gain since 11 May – to close at 52,591.41 points.
Sentiments remained weak as FBNH (-8.66%) fell to its lowest level since 3 Nov 21, while investors continued to sell off WAPCO (-5.53%), GTCO (-2.61%) and INTBREW (-6.25%). However, a late rally in market heavyweight AIRTELAFRI (+9.39%) – the largest stock on the ASI by market capitalization (index weight: 21.31%) – drove the benchmark index higher. As a result, the year-to-date (YTD) return rose to 23.12%, with the market capitalisation increasing by N345.98bn to close at N28.35trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 52.25%. A total of 382.46m shares valued at N4.23bn were exchanged in 5,922 deals. UACN (+1.18%) led the volume chart with 48.19m units traded while AIRTELAFRI (+9.39%) led the value chart in deals worth N647.7m.
Market breadth closed negative at a 3.64-to-1 ratio, with declining issues significantly outnumbering advancing ones. CHAMPION (-10.00%) topped thirty-nine (39) others on the laggard’s log, while CHAMS (+9.52%) led ten (10) others on the leader’s table.
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