SAT, 15 OCT, 2022-theGBJournal| In the last trading session of the week, the domestic bourse recovered as the All-Share Index gained 0.09% to settle at 47,569.04 points, the highest point since 6 October.
A total turnover of 491,815 million shares worth N11.922 billion in 14,350 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 586.939 million shares valued at N8.837 billion that exchanged hands last week in 17,183 deals, according to NGX Exchange data.
Gains in ZENITHBANK (+2.30%) and GTCO (+5.60%) pushed the broader index into positive terrain. Having gained in two of four trading sessions this week, the ASI closed 0.46% higher w/w, ending five consecutive weekly losses.
Over the course of the week, strong performances across BUACEMENT (+8.65% w/w), ZENITHBANK (+2.30% w/w), UBA (+2.22% w/w), and ACCESSCORP (+5.26% w/w) were sufficient to offset the selloffs in SEPLAT (-4.00% w/w), NB (-4.03% w/w), FBNH (-4.04% w/w) and GEREGU (-9.02% w/w).
Consequently, the year-to-date (YTD) return rose to 11.36%, while the market capitalization gained N116.04bn w/w to close at N25.91trn.
Analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 104.36%. A total of 124.43m units of shares valued at N4.27bn were exchanged in 3,101 deals. GTCO (+5.60%) led the volume chart with 35.00m units traded while MTNN (+0.00%) led the value chart in deals worth N1.21bn.
Market breadth closed positive at a 1.75-to-1 ratio, with advancing ones outnumbering declining ones. HONYFLOUR (+9.86%) led thirteen others on the gainer’s table, while ACADEMY (-9.66%) topped seven others on the laggard’s log.
Trading in the top three equities namely Guaranty Trust Holding Company Plc, Mutual Benefits Assurance Plc and FBN Holdings Plc. (measured by volume) accounted for 211.080 million shares worth N2.478 billion in 2,834 deals, contributing 42.92% and 20.78% to the total equity turnover volume and value respectively.
Key highlights of market activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 47,569.04 | +0.09 | +11.36 |
| Market Cap. (N ‘trillion) | 25.91 | +0.09 | +16.19 |
| Volume (millions) | 124.43 | +43.78 | |
| Value (N ‘billion) | 4.27 | +104.36 |
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 |
Meanwhile, Global stocks posted mixed performances as investors assessed the outlook for the Federal Reserve’s subsequent interest-rate hikes and the resilience of the US economy following the release of the latest US inflation data, retail sales data, and corporate earnings reports.
Accordingly, US (DJIA: +2.5% and S&P 500: +0.8%) stocks extended their winning streak to a second week as investors assessed earnings results from major banks for clues on the trajectory of the US economy.
European equities (STOXX Europe: +1.1% and FTSE 100: -0.6%) posted mixed performances as investors reacted positively to prospects of a reversal in UK fiscal policy amid losses in financial stocks. In Asia, the Japanese market (Nikkei 225: -0.1%) declined following selloffs in heavyweight tech stocks earlier in the week.
In contrast, the Chinese market (SSE: +1.6%) edged higher as slower-than-expected inflation data in China supported policy-easing bets. Elsewhere, the Emerging (MSCI EM: -4.8%) and Frontier (MSCI FM: -0.8%) markets settled lower on the back of losses in the Taiwanese (-4.2%) and Bahrani (-0.8%) markets, respectively.
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