NGX All-Share Index ends the perfect week up 2.04% w/w

Ending the perfect week, Nigerian equities closed the session stronger, bringing the All-Share index up by 0.32% to settle at 52,403.51 points. Gains in BUAFOODS (+5.56%), WAPCO (+0.42%) and ACCESSCORP (+1.50%) outweighed losses in telco heavyweight, MTNN (-0.57%) alongside GTCO (-0.20%) and NB (-2.59%) keeping the market in the positive terrain. Having gained in all five (5) trading sessions this week, the ASI closed 2.04% higher w/w, its first week of gain in the month.

Over the course of the week, strong bullish sentiment in index heavyweights, AIRTELAFRI (+4.34% w/w), MTNN (+2.10% w/w) and BUAFOODS (+11.76% w/w) offset losses in NESTLE (-3.38% w/w), GTCO (-0.60% w/w) and NB (-11.48% w/w). As a result, the year-to-date (YTD) return rose to 2.25%, while the market capitalisation gained ₦570.52bn w/w to close at ₦28.53tn. Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 25.83%. A total of 3.13bn shares valued at ₦13.07bn were exchanged in 5,573 deals. TRANSCORP (-9.94%) led the volume and value charts with 2.73bn units traded in deals worth ₦8.52bn, this was following a mutual agreement between Femi Otedola and Tony Elumelu of which Femi Otedola exited his recently acquired 6% stake in the company today.

Market breadth closed positive at a 1.05-to-1 ratio with advancing issues outnumbering declining ones. BERGER (+9.86%) topped nineteen (19) others on the leader’s log while CUTIX (-10.00%) topped eighteen (18) others on the laggard’s table.

Find below key highlights of market activities

Dividend Information for 2023