Ending the week, the Lagos bourse extended its bearish run as the benchmark index closed 0.10% weaker to settle at 66,382.14 points, its lowest level since 29 August. Selloffs in market heavyweights, MTNN (-0.19%), BUACEMENT (-10.00%) alongside GTCO (-0.14%) outweighed gains in DANGCEM (+1.80%), BUAFOODS (+3.10%) and ZENITHBANK (+0.48%) to keep the market in the red. Having lost in all trading sessions this week, the ASI closed 1.40% lower w/w, extending past week’s losses.
Losses in MTNN (-1.86% w/w), BUACEMENT (-11.08% w/w) and ZENITHBANK (-4.70% w/w) drove the broader index’s loss offsetting the gains DANGCEM (+1.80% w/w), BUAFOODS (+3.10% w/w) and WAPCO (+4.72% w/w). Consequently, the year-to-date (YTD) return slumped to 29.52%, while the market capitalization shed ₦515.80bn w/w to close at ₦36.33trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 32.81%. A total of 292.94m shares valued at 4.53bn were exchanged in 6,323 deals. FIDELITYBK (+1.22%) led the volume chart with 48.59m units traded while MTNN (-0.19%) led the value chart in deals worth ₦772.35m.
Market breadth closed positive at a 1.47-to-1 ratio with advancing issues outnumbering declining ones. NGXGROUP (+8.93%) led twenty-one (21) others on the leader’s log while BUACEMENT (-10.00%) topped fourteen (14) others on the laggard’s table.
Find below key highlights of market activities
|Market Cap. (₦ ‘trillion)||36.33||-0.10||30.15|
|Value (₦ ‘billion)||4.53||32.81|
Dividend Information for 2023
|Company||Dividend (Bonus)||Closure Date||Payment Date|
|FIDELITYBK||N 0.25 (interim)||15-Sep-23||22-Sep-23|
|SEPLAT ENERGY||3 US CENTS (interim)||18-Aug-23||30-Aug-23|