In the last trading session of the week, the local equities extended losses as the All-Share Index declined by 1.39% to close at 67,324.59 points. Bearish sentiments in market heavyweight, DANGCEM (-8.49%) alongside GTCO (-0.14%), and WAPCO (-1.38%) were the sole drivers of the market plunge. Having lost in three (3) of five (5) trading sessions this week, the ASI closed 0.11% lower w/w, extending losses for the second consecutive week.
Over the course of the week, MTNN (-0.41% w/w), DANGCEM (-8.49% w/w) and ZENITHBANK (-0.75% w/w) were the major drivers of the week’s loss outweighing gains in AIRTELAFRI (+3.20% w/w), BUAFOODS (+6.32% w/w), and STANBIC (+13.21% w/w). Consequently, the ASI year-to-date (YTD) return fell to 31.36%, while the market capitalization shed ₦38.94bn w/w to close at ₦36.85trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 25.16%. A total of 1.03bn shares valued at 4.35bn were exchanged in 6,370 deals. STERLINGNG (-2.39%) led the volume chart with 65.17m units traded, while OANDO (-9.89%) led the value chart in deals worth ₦719.18m.
Market breadth closed negative at a 1.06-to-1 ratio with declining issues outnumbering advancing ones. OANDO (-9.89%) led eighteen (18) others on the laggard’s log while NEM (+10.00%) topped seventeen (17) others on the leader’s table.
Find below key highlights of market activities
|Market Cap. (₦ ‘trillion)||36.85||-1.39||32.00|
|Value (₦ ‘billion)||4.35||-25.16|
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|