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Markets Wrap | NGX All-Share Index recovers from its wobbly start to the week, gains 0.20%

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L – R shows Anthony Chiejina, Group Head, Corporate Communications, Dangote Group; Bayo Rotimi, Managing Director, Greenwich Merchant Bank; Dr. Titilayo Fowokan, Group Head, Strategic Tax and Compliance, Dangote Group; Chuka Eseka, Vetiva Capital Management Limited; Tokunbo Aturamu, Head, Debt Capital Markets, Stanbic IBTC Capital; Elizabeth Ebi, Group Managing Director, Futureview Financial Services Limited; Tony Esene, Group Head, Corporate Finance, Dangote Industries Limited; Mallam Mustapha Ibrahim, Group Chief Finance Officer, Dangote Industries Limited; Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited (NGX); Yemisi Deji Bejide, Head, Mergers & Acquisitions, Standard Chartered Capital & Advisory Nigeria Limited; Dalu Ajene, Managing Director, Rand Merchant Bank Nigeria Limited; Oluwole Abegunde, Group Managing Director; Meristem Capital Limited; Funso Akere, Chief Executive Officer, Stanbic IBTC Capital; Azeezah Muse-Sadiq, Solicitor, Banwo & Ighodalo and Gbadebo Adenrele, United Capital Plc, during Dangote Industries Limited Closing Gong ceremony commemorating the Dangote Industries Funding plc series 1 and 2 Bond listing at the Exchange today in Lagos.
Access Pensions, Future Shaping

WED. 29 MARCH 2023-theGBJournal | Nigerian equities market ended its four uninterrupted sessions of losses Wednesday, as the benchmark Index rose by 0.20% to settle at 53,603.80 points.

Bullish sentiment in index heavyweight, DANGCEM (+5.07%) alongside ZENITHBANK (+2.80%), GTCO (+1.61%) and WAPCO (+1.98%) pushed the broader index into positive territory. Consequently, the year-to-date (YTD) return rose to 4.59%, while the market capitalization gained N57.49bn to close at N29.20trn.

Trade turnover settled higher relative to the previous session, with the value of transactions up by 58.74%.

A total of 236.07m shares valued at N3.26bn were exchanged in 3,906 deals. TRANSCORP (+7.14%) led the volume chart with 91.39m units traded, while ZENITHBANK (+2.80%) led the value chart in deals worth N696.21m.

Market breadth closed positive at a 1.73-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+9.84%) topped eighteen others on the leader’s log, while MAYBAKER (-8.70%) led ten others on the laggard’s table.

Dividend Information

Company  Dividend (Bonus) Closure Date Payment Date
BUACEMENT N2.80  (final) 11-Aug-23 24-Aug-23
STANBIC N2.00  (final) 12-Apr-23 26-May-23
NESTLE N36.50  (final) 28-Apr-23 18-May-23
SEPLAT  $0.075 (final) 19-Apr-23 10-May-23
ZENITHBANK N3.20  (final) 17-Apr-23 2-May-23
WAPCO N2.00 (final) 11-Apr-23 28-Apr-23
NB N1.03 (final) 17-Mar-23 26-Apr-23
DANGCEM N20.00  (final) 31-Mar-23 24-Apr-23

 Activities in the Treasury bills secondary market were quiet, as the average yield closed flat at 5.8%. Similarly, the average yield was unchanged at 4.0% in the OMO segment.

In the same vein, the Treasury bond secondary market traded on a calm note, as the average yield stayed flat at 13.0%. Across the benchmark curve, the average yield pared at the short (-1bp) end as investors demanded the MAR-2024 (-2bps) bond. The average yield was unchanged at the mid and long segments.

The overnight lending rate expanded by 100bps to 19.0%, in the absence of any significant funding pressures on the system.

The naira appreciated by 0.1% to NGN461.24/USD at the I&E window.

Twitter-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.ng| govandbusinessj@gmail.com

Access Pensions, Future Shaping
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