Home Finance NGX All-Share Index extends weekly gains, up 1.18% w/w

NGX All-Share Index extends weekly gains, up 1.18% w/w

by Business News Report

In the week’s final trading session, the Nigerian equities ended its four-day winning streak as the benchmark index relapsed by 0.09% to close at 72,389.23 points. Selloff in Tier 1 banks namely,  UBA (-1.83%), ACCESSCORP (-2.63%), and FBNH (-4.92%) drove the market’s weak performance, outweighing gains in ZENITHBANK (+1.92%), DANGSUGAR (+0.17%), and WAPCO (+0.34%). Having gained in four of five trading sessions this week, the ASI closed 1.18% higher w/w, it’s eight consecutive weekly gain.

Over the course of the week, strong performances in MTNN (+2.68% w/w), BUACEMENT (+0.52% w/w), and ZENITHBANK (+6.00% w/w) drove the market’s positive performance, outweighing losses in  FBNH (-2.73% w/w), INTBREW (-2.22% w/w) and UNILEVER (-0.34 w/w). As a result, the year-to-date (YTD) return rose to 41.42%, while the market capitalisation gained ₦463.76bn w/w to close at ₦39.61trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.49%. A total of 307.15m shares valued at ₦6.57bn were exchanged in 6,016 deals. GTCO (+3.40%) led both the volume and value chart with 51.08m units traded  in deals worth ₦2.04bn.

Market breadth closed positive at a 2.56-to-1 ratio with advancing issues outnumbering the declining ones. CADBURY (+9.93%) topped forty (40) others on the leader’s table while UNIVINSURE (-7.14%) led fifteen (15) others on the laggard’s log.

Find below key highlights of market activities

IndicatorsCurrentChange (%)YTD
All-Share Index72,389.23-0.0941.24
Market Cap. (₦ ‘trillion)39.61-0.0941.90
Volume (millions)307.15-31.22
Value (₦ ‘billion)6.57-9.49

Dividend Information for 2023

CompanyDividend (Bonus)Closure DatePayment Date
SEPLAT ENERGY$0.03 (Q3 interim)13-Nov-2324-Nov-23
ACCESSCORP₦0.30 (interim)6-Oct-2319-Oct-23
UBA₦0.50 (interim)27-Sep-236-Oct-23
ZENITHBANK₦0.50 (interim)25-Sep-2329-Sep-23
STANBICN1.50 (interim)13-Sep-2327-Sep-23
GTCO₦0.50 (interim)15-Sep-2325-Sep-23
FIDELITYBKN 0.25 (interim)15-Sep-2322-Sep-23
CUSTODIAN₦0.15 (interim)21-Aug-235-Sep-23
SEPLAT ENERGY3 US CENTS (interim)18-Aug-2330-Aug-23
MTNN₦5.60  (interim)17-Aug-2324-Aug-23

Source: Coronation

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