NGX All-Share Index closes the week positive, as Zenith get CBN node to become Holding coy

Zenith Bank Plc (the “Company”) announced to the Nigerian Stock Exchange Limited (NGX), shareholders and the general investing public that the CBN has granted the it Approval-In-Principle to operate as a non-operating Financial Holding Company. Further details regarding this development will be provided by the company accordingly. Meanwhile in the last trading session of the week, the stock market succumbed to sell pressure as the All-Share Index declined by 0.25% to close at 55,529.21 points. Selloffs in SEPLAT (-9.43%) and GTCO (-0.75%) drove the market’s weak performance. Having gained in three (3) of five (5) trading sessions this week, the ASI closed 1.06% higher w/w.

Bullish sentiments in BUAFOODS, ZENITHBANK, GTCO and WAPCO in the course of the week were significant enough to push the market’s performance into the green despite the rout in AIRTELAFRI, and SEPLAT. As a result, the ASI’s year-to-date (YTD) return rose to 8.35%, while the market capitalisation gained ₦315.96bn w/w to close at ₦30.25trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 18.31%. A total of 750.79m shares valued at ₦2.66bn were exchanged in 3,962 deals. CHAMS (-3.85%) led the volume chart with 571.07m units traded while ZENITHBANK (+0.76%) led the value chart in deals worth ₦461.81m. Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering declining ones. NEIMETH (+8.97%) topped thirteen (13) others on the leader’s log while SEPLAT (-9.43%) led twelve (12) others on the laggard’s table

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation