NGX All-Share ends the week strong, gains 2.62% w/w and pushes year-to-date return higher to 19.24%

SAT, 07 MAY, 2022-theGBJournal | Ending the holiday shortened week, the domestic bourse closed the session strong, bringing the NGX All-Share index up by 0.20% to close at 50,937.01 points, the highest point since 06 August 2008. 

Gains in ZENITHBANK (+1.88%), WAPCO (+1.85%) and SEPLAT (+0.87% ex-div) as well as sustained investor interests in consumer goods, INTBREW (+9.76%), NB (+1.38%), were the primary drivers of the market’s positive close.

Notably, having gained in all three trading sessions this week, the ASI closed 2.62% higher w/w, the fourth consecutive week of gain since the week ended 8 April 2022 and first in the month.

Over the course of the week, strong bullish sentiment in index heavyweights, MTNN (+6.06 w/w), BUACEMENT (+8.16% w/w) as well as mid-cap consumer goods tickers, NB (+22.59% w/w), INTBREW (+32.35% w/w), PRESCO (+18.55% w/w), and OKOMUOIL (+15.65% w/w) offset losses in NESTLE (-2.78% w/w) and Tier-1 banks, ZENITHBANK (-0.20% w/w), GTCO (-2.50% w/w), UBA (-2.42% w/w) and FBNH (-0.42% w/w).

As a result, the year-to-date (YTD) return rose to 19.24%, while the market capitalization gained N699.80bn w/w to close at N27.46tn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 36.08%. A total of 466.28m shares valued at ₦5.31bn were exchanged in 7,442 deals. LIVINGTRUST (-9.68%) led the volume chart with 88.57m units traded, while SEPLAT (+0.87%) led the value chart in deals worth N851.78m.

Market breadth closed positive at a 3.07-to-1 ratio with advancing issues outnumbering declining ones. CAVERTON (+10.00%) topped forty-two others on the gainer’s log, while LIVINGTRUST (-9.68%) led thirteen others on the laggard’s table.

Meanwhile, negative sentiments dominated global equities as investors’ appetite for risk assets was clouded by worries over rising global inflation, speedy interest-rate hikes by major central banks, and China’s reinforcement of its zero-COVID policy, which stoked concerns about global growth.

Despite the tech-driven selloffs on Wallstreet earlier in the week, US (DJIA: +0.1%; S&P 500: +0.4%) stock markets were on track to close the week marginally higher as investors digested the Fed’s announcement of a half-percentage rate hike and payroll data.

  Elsewhere, European stock markets (STOXX Europe: -3.6%; and FTSE 100: -1.0%) were on course for another weekly loss as investors shun riskier assets on the back of worries that bigger rate hikes would be needed to tame decades-high inflation.

Asian markets posted mixed performances, as the Nikkei 225 (+0.6%) eked out a weekly gain as a weaker yen drove bargain hunting in export-oriented shares. Conversely, the SSE (-1.5%) declined as China’s pledge to stick to its zero-Covid policy fueled concerns about the nation’s growth outlook.

The Emerging (MSCI EM: -1.6%) and Frontier (MSCI FM: -0.6%) markets stocks closed lower following bearish sentiments in China (-1.5%) and Vietnam (-2.8%), respectively.

Highlights of Key Market Activities

Dividend Information for 2022

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