TUE. 14 MARCH 2023-theGBJournal | The Nigerian equity market was lower today as sell pressures in GTCO (-3.08%), WAPCO (-1.92%) and ACCESSSCORP (-0.55%) dragged the overall market’s performance.
The benchmark index gave up 0.12% to close at 55,722.90 points at the end of trading while the year-to-date (YTD) return dipped to 8.73%, and the market capitalization slumped by N35.67bn to close at N30.36trn.
Market activities showed trade turnover settling higher relative to the previous session, with the value of transactions up by 10.47%. A total of 199.27m shares valued at N2.81bn were exchanged in 3,898 deals.
STERLNBANK (+3.42%) led the volume chart with 31.09m units traded in deals while AIRTELAFRI (+0.00%) led the value chart with N678.00m.
Market breadth closed negative at a 2.14-to-1 ratio, with declining issues outnumbering advancing ones. CHAMS (-8.00%) topped fourteen others on the laggard’s log, while FTNCOCOA (+7.69%) led six others on the leader’s table.
Highlights of Market Activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 55,722.90 | -0.12 | +8.85 |
| Market Cap. (N ‘trillion) | 30.39 | -0.12 | +8.87 |
| Volume (millions) | 179.03 | -35.14 | |
| Value (N ‘billion) | 2.55 | -70.36 |
Dividend information for 2023
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| BUACEMENT | N2.80 (final) | 11-Aug-23 | 24-Aug-23 |
| NESTLE | N36.50 (final) | 28-Apr-23 | 18-May-23 |
| SEPLAT | $0.075 (final) | 19-Apr-23 | 10-May-23 |
| WAPCO | N2.00 (final) | 11-Apr-23 | 28-Apr-23 |
| NB | N1.03 (final) | 17-Mar-23 | 26-Apr-23 |
| DANGCEM | N20.00 (final) | 31-Mar-23 | 24-Apr-23 |
| MTNN | N10.00 (final) | 28-Mar-23 | 20-Apr-23 |
| DANGSUGAR | N1.50 (final) | 27-Mar-23 | 15-Apr-23 |
At the money market, the overnight lending rate expanded by 19bps to 11.0%, in the absence of any significant outflow from the system.
The Treasury bills secondary market closed on a bearish note, as the average yield expanded by 77bps to 4.4%. Across the curve, the average yield was flat at the short and mid segments but expanded at the long (+121bps) end due to the sell-off of the 345DTM (+10.92ppts). Elsewhere, the average yield was flat at 3.0% in the OMO segment.
Meanwhile, activities in the FGN bond secondary market were quiet, as the average yield closed flat at 12.8%.
The naira appreciated by 0.1% to NGN461.42/USD at the I&E window.
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