ZENITHBANK, GTCO, STANBIC push NGX All-Share Index higher gains of 3.89% w/w

Closing the week, the Nigerian equities ended on a positive note as the All-Share Index closed 1.68% stronger to settle at 65,003.39 points. Gains in Tier-1 banks, ZENITHBANK, GTCO and STANBIC drove the market’s strong performance.  Having gained in four (4) of five (5) trading sessions this week, the ASI closed 3.89% higher w/w.

Over the course of the week, MTNN (+1.85% w/w), DANGCEM (5.07% w/w) and ZENITHBANK (+8.15% w/w) were the major drivers of the broader index positive performance offsetting loss in GUINNESS (-8.75% w/w). As a result. the year-to-date (YTD) return rose to 26.83%, while the market capitalisation gained ₦1.33 trillion w/w to close at ₦35.39 trillion.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.04%. A total of 770.80m shares valued at ₦14.26 billion were exchanged in 8,915 deals. UBA (+9.96%) led the volume chart with 111.21m units traded while AIRTELAFRI(+0.00%) led the value chart in deals worth ₦2.59 billion.

Market breadth closed positive at a 2.85-to-1 ratio with advancing issues outnumbering declining ones. GTCO (+10.00%) led thirty-six (36) others on the gainer’s log, while ACADEMY (-9.88%) topped twelve (12) others on the laggard’s table.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation