SAT, 02 JULY, 2022-theGBJournal| Closing the week, the Lagos bourse extended gains from the previous session, bringing the All-Share Index up by 2bp to close at 51,829.67 points. The market’s performance was bolstered by investor interests in ZENITHBANK (+0.69%), ACCESSCORP (+1.62) and SEPLAT (+0.04%) offsetting losses in GTCO (-0.24%) and UBA (-0.67%).
Consequently, having gained in three (3) of five (5) trading sessions this week, the ASI closed 0.24% higher w/w, recovering losses of the past week.
Over the course of the week, the rally in OKOMUOIL (+12.09% w/w), FBNH (+9.95% w/w), ETI (+9.28% w/w) and INTBREW (+5.00% w/w) drove the market into the green region, despite selloffs in MTNN (-0.04% w/w), GTCO (-2.15% w/w), NB (-2.00% w/w),and UBA (-0.67% w/w). As a result, the ASI year-to-date (YTD) return rose to 21.33%, while the market capitalization gained N66.92bn w/w to close at N25.32tn.
Analysis of Friday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 55.93%. A total of 127.03m shares valued at N1.71bn were exchanged in 3,718 deals. GTCO (-0.24%) led the volume and value chart with 23.47m units in deals worth N480.3m.
Market breadth closed positive at a 1.19-to-1 ratio with advancing issues outnumbering advancing ones. CUTIX (+9.78%) led eighteen (18) others on the leader’s log while COURTVILLE (-7.84%) topped fifteen (15) others on the laggard’s table.
Trading in the top three equities namely Mutual Benefits Assurance Plc, Living Trust Mortgage Bank Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 484.839 million shares worth N 2.414 billion in 2,410 deals, contributing 35.97% and 9.86% to the total equity turnover volume and value respectively.
Meanwhile, negative sentiments continue to dominate global markets as stocks were on course to close lower as investors continue to assess the risk of a slowing global economy against major Central Banks’ aggressive monetary tightening moves amid the Russia/Ukraine war. Consequently, US (DJIA: -2.3%; S&P 500: -3.2%) stocks were set to close the week in the red as weak economic data reignited recession fears amid a hawkish Fed.
In the same vein, European (STOXX Europe: -0.7%; and FTSE 100: -1.7%) stocks were on course for a weekly loss as rising inflation and rate hike concerns continue to dampen sentiments.
Meanwhile, Asian markets posted mixed performances, as the Japanese Nikkei 225: (-2.1%) closed lower following weaker-than-expected results from the Bank of Japan’s Tankan business survey amid unabated recession worries.
Elsewhere, the SSE (+1.1%) posted a weekly gain as investors weighed signs of gradual improvement in China’s economy. Emerging (MSCI EM: -1.0%) market stocks dipped, following bearish sentiments in South Korea (-2.6%), while the Frontier (MSCI FM: +0.3%) market stocks closed higher consequent upon gains in Kuwait (+2.8%).
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| BUAFOODS | N3.50 | 14-Jul-22 | 4-Aug-22 |
| AIRTELAFRI | $0.03 (final) | 23-Jun-22 | 22-Jul-22 |
| BUACEMENT | N2.60 | 15-Jul-22 | 21-Jul-22 |
| FBNH | N0.35 | 14-Jun-22 | 21-Jun-22 |
| NESTLE | N25.50 | 3-Jun-22 | 30-Jun-22 |
| TOTAL | N18.20 (final) | 29-Apr-22 | 17-Jun-22 |
| DANGSUGAR | N1.00 | 2-Jun-22 | 15-Jun-22 |
| DANGCEM | N20.00 | 31-May-22 | 15-Jun-22 |
| SEPLAT | $0.025 (final) | 6-May-22 | 25-May-22 |
| ACCESSCORP | N0.70 (final) | 20-Apr-22 | 28-Apr-22 |
| MTNN | N8.57(final) | 7-Apr-22 | 28-Apr-22 |
| STANBIC | N2.00 | 13-Apr-22 | 27-Apr-22 |
| NB | N1.20 (final) | 16-Mar-22 | 22-Apr-22 |
| WAPCO | N1.00 (final) | 8-Apr-22 | 21-Apr-22 |
| GTCO | N2.70 (final) | 24-Mar-22 | 8-Apr-22 |
| UBA | N0.8 (final) | 21-Mar-22 | 7-Apr-22 |
| ZENITHBANK | N2.80 (final) | 28-Mar-22 | 6-Apr-22 |
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