SAT, 10 SEPT, 2022-theGBJournal| The Nigerian equities market closed bullish Friday as the All-Share Index (ASI) rose 0.09% to close at 49,695.12 points. However, having lost in three of five trading sessions this week, the ASI closed 0.70% lower w/w, offsetting most of the gains of the prior week.
All other indices finished lower with the exception of NGX Insurance, NGX MERI Value, and NGX Consumer Goods Indices which appreciated by 1.04%, 0.87% and 0.72% while, the NGX ASeM index closed flat.
A total turnover of 949.819 million shares worth N9.329 billion in 18,525 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.195 billion shares valued at N12.924 billion that exchanged hands last week in 19,305 deals, according to NGX Exchange data.
Trading in the top three equities namely Sterling Bank Plc, United Bank for Africa Plc and Transnational Corporation Plc (measured by volume) accounted for 472.701 million shares worth N1.164 billion in 2,333 deals, contributing 49.77% and 12.48% to the total equity turnover volume and value respectively.
UBA (+3.42%), WAPCO (+1.84%) and ACCESSCORP (+2.31%) were the major drivers of the market’s performance.
Over the course of the week, selloffs in AIRTELAFRI (-1.96% w/w), STANBIC (-9.09% w/w) and ZENITHBANK (-6.74% w/w) were the primary drivers of the broad index’s weak performance. As a result, the ASI’s year-to-date (YTD) return fell to 16.34%, while the market capitalisation lost N188.94bn w/w to close at N26.80tn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 14.60%. A total of 319.09m shares valued at N1.86bn were exchanged in 3,335 deals. STERLNBANK (+0.00%) led the volume charts with 173.84m units traded while UBA (+3.42%) led the value charts in deals worth N400.61m.
Market breadth closed negative at a 1.60-to-1 ratio with declining issues outnumbering advancing ones. HONYFLOUR (-10.00%) topped fifteen (15) others on the laggard’s table, while NEM (+7.62%) led nine (9) others on the leader’s log.
highlights of market activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,695.12 | +0.09 | +16.34 |
| Market Cap. (N ‘trillion) | 26.80 | +0.09 | +20.22 |
| Volume (millions) | 319.09 | +97.11 | |
| Value (N ‘billion) | 1.86 | +14.60 |
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| 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 | N.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, global stocks were broadly positive thus week, as investors digested hawkish remarks from policymakers that cemented bets of further rate hikes amid price pressures.
Accordingly, US (DJIA: +1.5% and S&P 500: +2.1%) stocks were on track to close positively. Similarly, European equities (STOXX Europe: +0.4% and FTSE 100: +0.7%) advanced as investors digested a slew of central bank news.
Asian markets posted positive performances, as the Nikkei 225 (+2.0%) posted a weekly gain, taking a cue from the rally on Wall Street. Likewise, the SSE (+2.4%) closed positively as a slower-than-expected inflation reading supported bets for more monetary stimulus.
Elsewhere, the Emerging (MSCI EM: -1.5%) and Frontier (MSCI FM: -0.6%) markets stocks settled lower following losses in South Korea (-1.0%) and Kuwait (-1.3%), respectively.
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