THUR, 22 SEPT, 2022-theGBJournal| Following Wednesday’s heavy loses, activity on the NGX Exchange stayed bearish Thursday as the benchmark index fell by 0.47% to settle at 49,190.34 points — the lowest level since 24 August — putting the index on track for a third successive weekly loss.
The decline in market heavyweight, BUACEMENT (-6.18%), was the major driver of the market’s weak performance. Consequently, the ASI’s year-to-date (YTD) return decreased to 15.16%, while the market capitalisation contracted by N124.94bn to close at N26.53trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 202.00%. A total of 126.84m shares valued at N1.78bn were exchanged in 3,117 deals. NGXGROUP (-2.96%) led the volume and value charts with 30.75m units traded in deals worth N553.54m.
Market breadth closed negative at a 1.3-to-1 ratio with declining issues outnumbering advancing ones. CORNERST (-10.00%) topped twelve (12) others on the laggard’s table, while TRANSEXPR(+8.70%) led nine (9) others on the leader’s log.
Market Highlights
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,190.34 | -0.47 | +15.16 |
| Market Cap. (N ‘trillion) | 26.53 | -0.47 | +19.00 |
| Volume (millions) | 126.84 | +144.51 | |
| Value (N ‘billion) | 1.78 | +202.00 | |
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 |
| OKOMU OIL | N7.00 (interim) | 26-Aug-22 | 29-Aug-22 |
The Treasury bills secondary market was quiet, as the average yield was unchanged at 7.6%. Similarly, the average yield closed flat at 9.4% in the OMO segment.
Activities in the Treasury bond secondary market were bearish, as the average yield expanded by 7bps to 12.9%. Across the benchmark curve, the average yield expanded at the short (+18bps) end as market players sold off the FEB-2028 (+58bps) bond. The average yield was flat at the mid and long segments.
The naira was flat at NGN436.50/USD at the I&E window.
The overnight lending rate expanded by 150bps to 14.7%, in the absence of any significant outflow from the system.
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