NGX All-Share Index ends the week negative, down 0.75% w/w

In the last trading session of the week, the domestic bourse succumbed to sell pressure as the All-Share Index declined by 0.29% to close at 62,569.73 points. Bearish sentiments in Tier-1 banking names, ZENITHBANK (-3.42%), GTCO (-0.88%), and ACCESSCORP (-4.47%) were the sole drivers of the market plunge. Having lost in three (3) of five (5) trading sessions this week, the ASI closed 0.75% lower w/w, marking the first week of loss in this quarter.

Over the course of the week, MTNN (-3.60% w/w), NESTLE (-2.08% w/w) and ZENITHBANK (-6.61% w/w)  were the major drivers of the week’s loss offsetting gains in DANGCEM (+11.63% w/w), BUACEMENT (+0.84% w/w), and GEREGU (+10.00% w/w). Consequently, the year-to-date (YTD) return dipped to 22.08%, while the market capitalization shed ₦256.54bn w/w to close at ₦34.07trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 15.52%. A total of 600.49m shares valued at ₦8.83bn were exchanged in 9,554 deals. ACCESCORP (-4.47%) led the volume and value charts with 94.16m units in deals worth ₦1.43bn.

Market breadth closed negative at a 7.50 to-1 ratio with declining issues outnumbering advancing ones. FLOURMILL (-10.00%) topped forty-four (44) others on the laggard’s table, while NASCON (+10.00%) led five (5) others on the leader’s log.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation