SAT, 13 AUG, 2022-theGBJournal| Ending the volatile week, the bears extended dominance on the local bourse as the All-Share Index ended 0.70% lower to settle at 49,664.07 points, the lowest point since 9 August.
All other indices finished lower with the exception of The NGX Insurance, NGX Consumer Goods and NGX Growth Indices which appreciated by 6.00%, 3.00% and 1.56% while, The NGX ASeM index closed flat.
A total turnover of 1.511 billion shares worth N13.547 billion in 20,074 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 705.636 million shares valued at N12.850 billion that exchanged hands last week in 22,124 deals.
Trading in the top three equities namely Capital Hotel Plc, FBN Holdings Plc and Jaiz Bank Plc (measured by volume) accounted for 763.836 million shares worth N5.130 billion in 1,025 deals, contributing 50.55% and 37.87% to the total equity turnover volume and value respectively.
On market movers, renewed selloffs in industrial heavyweights, BUACEMENT (-9.95%) and DANGCEM (-2.34%) were the major drivers of the weak overall market’s performance.
Having gained in one of five trading sessions this week, the ASI closed 2.09% lower w/w, eroding all the prior week’s gains.
Over the course of the week, profit-taking in BUACEMENT (-9.95% w/w), DANGCEM (-2.34% w/w), MTNN (-6.93% w/w) and ZENITHBANK (-2.97% w/w) were the major drags on the broader index. Consequently, the year-to-date (YTD) return fell to 16.26%, while the market capitalization shed N570.79bn w/w to close at N26.79trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 134.92%. A total of 750.29m shares valued at N5.31bn were exchanged in 4,076 deals. ETRANZACT (+0.00%) led the volume chart with 77.57m units traded, while FBNH (+1.38%) led the value chart in deals worth N333.24m.
Market breadth closed negative at a 1.21-to-1 ratio with declining issues outnumbering advancing ones. BUACEMENT (-9.95%) led twenty-two (22) others on the laggard’s log, while BUAFOODS (+10.00%) topped eighteen (18) others on the leader’s table.
Key highlights of market activities.
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,664.07 | -0.70 | +16.26 |
| Market Cap. (N ‘trillion) | 26.79 | -0. 70 | +20.14 |
| Volume (millions) | 750.29 | +587.93 | |
| Value (N ‘billion) | 5.31 | +134.92 |
Dividend Information for 2022
| CUSTODIAN | Dividend (Bonus) | Closure Date | Payment Date |
| SEPLAT | $0.025 (interim) | 15-Aug-22 | 09-Sep-22 |
| CUSTODIAN | N0.10 (interim) | 26-Aug-22 | 01-Sep-22 |
| OKOMU OIL | N7.00 (interim) | 26-Aug-22 | 29-Aug-22 |
| MTNN | N5.60 (interim) | 19-Aug-22 | 26-Aug-22 |
Meanwhile, Equities markets around the globe edged higher as lower-than-expected US inflation data stoked expectations that the Federal Reserve could pivot to a slower pace of interest-rate hikes, amid prospects of global economic growth.
Accordingly, US (DJIA: +1.6% and S&P 500: +1.5%) stocks were on track to close positively. Likewise, European equities (STOXX Europe: +1.2% and FTSE 100: +0.5%) nudged higher as investors digested a slew of economic data and corporate earnings reports. Similarly, Asian markets (Nikkei 225: +1.3% and SSE: +1.5%) posted weekly gains taking a cue from the positive sentiments on Wall Street. The Emerging (MSCI EM: +1.1%) and Frontier (MSCI FM: +1.0%) markets mirrored the bullish sentiments across global equities consequent upon gains in China (+1.5%) and Vietnam (+0.5%), respectively.
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