SAT, 01 OCT, 2022-theGBJournal| In line with our expectations, cautious trading dominated the local bourse this week.
In the last trading session of the week, the domestic bourse recovered as the All-Share Index gained 0.12% to close the week at 49,024.16 points.
All other indices finished lower with the exception of NGX Main-Board, NGX 30, NGX Oil & Gas and NGX Industrial Goods, which appreciated by 0.25%, 0.04%, 0.20%, and 3.01% while The NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.
A total turnover of 1.005 billion shares worth N10.406 billion in 17,844 deals was traded during the week by investors on the floor of the Exchange, in contrast to a total of 562.856 million shares valued at N9.438 billion that exchanged hands last week in 16,013 deals, according to NGX Exchange data.
Trading in the top three equities namely Jaiz Bank Plc, Guaranty Trust Holding Company Plc, and Zenith Bank Plc. (measured by volume) accounted for 460.216 million shares worth N4.963 billion in 4,281 deals, contributing 45.81% and 47.69% to the total equity turnover volume and value respectively.
Over the course of the week, gains in BUACEMENT (+8.67%w/w), ZENITH (+0.25%w/w), FBNH (+0.49%w/w) and STANBIC (+3.45%w/w) were offset by MTNN (-0.15% w/w), GTCO (-4.05% w/w), ACCESSCORP (-8.52% w/w) and UBA (-4.11% w/w). Consequently, the year-to-date (YTD) return maintained 14.77%, while the market capitalization shed N6.86bn w/w to close at N26.45trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 65.96%. A total of 356.74m shares valued at N3.74bn were exchanged in 3,311 deals. GTCO (-0.28%) led the volume and value chart with 135.62m units traded in deals worth N2.41bn.
Market breadth closed positive at a 1.89-to-1 ratio with advancing issues outnumbering declining ones. RTBRISCOE (+9.68%) topped sixteen (16) others on the gainer’s table, while IKEJAHOTEL (-9.68%) led eight (8) others on the laggard’s log.
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| ACCESSCORP | N0.20 (interim) | 28-Sep-22 | 12-Oct-22 |
| GTCO | N0.30 (interim) | 21-Sep-22 | 30-Sep-22 |
| UBA | N0.20 (interim) | 22-Sep-22 | 29-Sep-22 |
| STANBIC | N1.50 (interim) | 7-Sep-22 | 21-Sep-22 |
| ZENITHBANK | N0.30 (interim) | 7-Sep-22 | 13-Sep-22 |
| SEPLAT | $0.025 (interim) | 15-Aug-22 | 9-Sep-22 |
| CUSTODIAN | N0.10 (interim) | 26-Aug-22 | 1-Sep-22 |
At the global markets, it was another tumultuous week for global stocks as renewed fears around monetary policy tightening conditions, financial dislocations in Europe, and geopolitical risks stoked risk-off sentiments.
Based on the preceding, US (DJIA: -1.2% and S&P 500: -1.4%) stocks plunged to new lows as investors weighed Federal Reserve policy decisions on the likely pace of further interest-rate hikes. Equally, European equities (STOXX 600: -1.3% and FTSE 100: -1.7%) extended their losing streak to another week on worries about global economic growth.
Likewise, Asian markets (Nikkei 225: -4.5% and SSE: -2.1%) mirrored Wall Street’s slump, as investors dumped riskier assets on recession worries. The Emerging (MSCI EM: -3.6%) and Frontier (MSCI FM: -3.5%) markets mirrored the bearish trend across global stocks following the losses in China (-2.1%) and Vietnam (-7.7%), respectively.
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