SAT, 23 JULY, 2022-theGBJournal| A total turnover of 917.190 million shares worth N14.803 billion in 19,513 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 504.322 million shares valued at N7.517 billion that exchanged hands last week in 12,393 deals, according to the NGX Exchange data.
Trading in the top three equities namely United Bank For Africa Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 355.624 million shares worth N4.120 billion in 3,486 deals, contributing 38.77% and 27.83% to the total equity turnover volume and value respectively.
Meanwhile, bears resurfaced in the local bourse this week as the All-Share Index dipped by 0.5% w/w to close at 51,979.92 points. Notably, profit-taking activities witnessed in NB (-10.9%), INTBREW (-6.9%), WAPCO (-6.7%), and ZENITHBANK (-6.5%) stocks led the weekly loss.
Consequently, the MTD and YTD returns moderated to +0.3% and +21.7%, respectively. However, activity levels were upbeat, as trading volume and value increased by 81.9% w/w and 96.9% w/w, respectively.
Analysing by sectors, the Banking (-4.1%), Consumer Goods (-2.0%), and Industrial Goods (-0.5%) indices declined, while the Oil and Gas (+3.8%) and Insurance (+1.8%) indices advanced.
Market breadth closed positive at a 2-to-1 ratio with declining issues outnumbering advancing ones. MAYBAKER (-10.00%) led seventeen (17) others on the laggard’s log, while INTBREW (+9.09%) topped eight (8) others on the leader’s table.
key highlights of market activities.
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 51,979.92 | -0.27 | +21.69 |
| Market Cap. (N ‘trillion) | 28.03 | -0.27 | +25.72 |
| Volume (millions) | 205.06 | +34.96 | |
| Value (N ‘billion) | 3.06 | +41.78 | |
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 |
Meanwhile, despite the broader narrative around major central banks tightening and the resulting headwinds to global economic growth, global stocks rallied this week as investors’ appetite for risk assets improved following impressive corporate earnings releases, and the Chinese central bank’s pledge to support China’s economy.
Accordingly, US (DJIA; +2.4% and S&P 500; +3.5%) stocks were set for a weekly gain, buoyed by the rally in tech stocks after better-than-expected earnings releases, particularly from Tesla and Netflix, earlier in the week. European (STOXX Europe: +2.6% and FTSE 100: +1.7%) stocks were also on course for a positive close as investors assessed inflation data and corporate earnings while evaluating the path of monetary policy.
Likewise, Asian markets (Nikkei 225: +4.2%; SSE +1.3%) posted positive performances following the rally on Wall Street and investors’ positive reaction to China’s banking regulator’s pledge to take measures to stem the property crisis and mortgage boycott.
In the same vein, the Emerging (MSCI EM: +3.0%) and Frontier (MSCI FM: +0.8%) markets mirrored the bullish trend across global stocks consequent upon gains in China (+1.3%) and Kuwait (+4.7%), respectively.
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