NGX ASI shrinks by 116bps w/w

The bears sustained the run from the previous week, as the equities market closed 1.16% lower week-on-week. Sell pressure in DANGCEM (-10.00% w/w), GTCO (-0.87% w/w) and ZENITHBANK (-0.26% w/w) drove the market relapse, despite gains in BUACEMENT (+3.73% w/w), SEPLAT (+1.28% w/w) and ACCESSCORP (+4.18% w/w). Accordingly, the market capitalisation lost ₦2.45bn w/w to close at ₦55.13trn. In the last trading session of the week, the domestic bourse gained 27bps, as the benchmark index  closed at 95,973.45 points. Investors interest in GTCO (+0.11%), FBNH (+1.75%), UBA (+0.45%) and ACCESSCORP (+5.00%)  drove the market’s recovery. As a result, the ASI year-to-date return increased to 28.35%, while the market capitalisation gained ₦146.71bn today.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.26%. A total of 327.28m shares valued at ₦4.61bn were exchanged in 7,351 deals. ACCESSCORP led the volume and value charts, with 36.85m units traded in deals worth ₦716.33m. Market breadth closed positive at a 3.10-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+10.00%) topped thirty (30) others on the leader’s log, while FTNCOCOA (-5.00%) led nine (9) others on the laggard’s table.

On the sectors, the NGX Industrial Index (-4.95%w/w), primarily driven by selloff in DANGCEM (-10.00% w/w),  led the laggards, followed by the NGX Consumer Goods Index (-1.42%w/w), the NGX 30 Index (-1.29%w/w) and the NGX Pension Index (-0.06% w/w). On the flip side,  the NGX Oil and Gas Index (+3.54%w/w), and the NGX Insurance Index (+1.90%w/w) and NGX Banking Index (+0.37%w/w) closed green.

Dividend Information for 2024

Find below key highlights of market activities