MON, 17 OCT, 2022-theGBJournal| Nigerian equities opened the week sharply lower, eroding prior week gains as the All-Share Index lost 2.52% to settle at 46,368.65 points – the lowest point since 28 January.
The market’s weak performance was driven by selloffs in telco heavyweight, AIRTELAFRI (-10.00%). As a result, the year-to-date (YTD) return fell to 8.55%, with the market capitalisation shedding N652.83bn to close at N25.25trn.
Analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 1.04%. A total of 137.98m units of shares valued at N4.32bn were exchanged in 3,234 deals. GTCO (+1.12%) led the volume chart with 33.72m units traded while AIRTELAFRI (-10.00%) led the value chart in deals worth N1.74bn.
Market breadth closed positive at a 2.8-to-1 ratio, with advancing ones outnumbering declining ones. PZ (+9.52%) led thirteen others on the gainer’s table, while AIRTELAFRI (-10.00%) topped four others on the laggard’s log.
Market Highlight
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 46,368.65 | -2.52 | +8.55 |
| Market Cap. (N ‘trillion) | 25.25 | -2.52 | +13.26 |
| Volume (millions) | 137.98 | +10.89 | |
| Value (N ‘billion) | 4.32 | +1.04 |
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 |
Meanwhile, the naira appreciated by 0.1% to N441.25/USD at the I&E window
The overnight lending rate was flat at 16.5%, as the average system liquidity closed at a net short position (N110.34 billion).
Activities in the Treasury bills secondary market were muted, as the average yield closed flat at 7.3%. Elsewhere, the average yield pared by 1bp to 10.3% in the OMO segment.
The Treasury bond secondary market traded with mixed sentiments, but with a bearish tilt, as the average yield expanded by 1bp to 13.7%. Across the benchmark curve, the average yield was unchanged at the short and mid segments, but expanded at the long (+3bps) end due to the selloff of the MAR-2035 (+12bps) bond.
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