Ending an almost perfect week, Nigerian equities closed the day 0.89% stronger, bringing the All-Share Index to settle at 52,512.48 points, the highest point since 15 June 2022. The market was buoyed today by sustained gains in telco heavyweight, MTNN (+4.50%), alongside ZENITHBANK (+1.79%) and WAPCO (+1.81%). Having gained in four (4) of five (5) trading sessions this week, the ASI closed 2.52% higher w/w, it’s first weekly gain in the year.
Over the course of the week, DANGCEM (+3.05% w/w), MTNN (+6.93% w/w) and BUACEMENT (+3.59% w/w) were the main drivers of the week’s gain. Consequently, the year-to-date (YTD) return rose to 2.46%, while the market capitalization gained ₦702.71bn w/w to close at ₦28.60trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 66.96%. A total of 217.16m shares valued at ₦2.55bn were exchanged in 4,591 deals. ZENITHBANK (+1.79%) led the volume and value chart with 20.31m units traded in deals worth ₦517.74m.
Market breadth closed positive at a 4.14-to-1 ratio with advancing issues outnumbering declining ones. TOTAL (+10.00%) led twenty-eight (28) others on the gainer’s table while FIDSON (-4.60%) topped six (6) others on the laggard’s log.
Find below key highlights of market activities
|Market Cap. (₦ ‘trillion)||28.60||0.89||2.46|
|Value (₦ ‘billion)||2.55||-66.96|
Dividend Information for 2022
|Company||Dividend (Bonus)||Closure Date||Payment Date|
|OKOMU OIL||₦7.00 (interim)||26-Aug-22||29-Aug-22|
Source: Coronation Securities