NGX All-Share Index sustains weekly losses, down 1.04% w/w

Ending the Eid Fitr shortened week, the NGX All-Share Index settled  0.35% higher at 51,355.74 points. Extended gains in Tier-1 banking names, ZENITHBANK (+0.46%), FBNH (+7.18%) and ACCESSCORP (+10.00%) outweighed losses in GTCO (-0.60%), WAPCO (-1.71%) and NB (-0.14%). Nonetheless, having gained in three (3) of four (4) trading sessions this week, the ASI closed 1.04% lower w/w.
 
Over the course of the week, losses in , MTNN (-6.67% w/w), SEPLAT (-3.02% w/w) and ZENITHBANK (-12.20% w/w) were the primary drivers of the broader index’s weak performance offsetting gains in GTCO (+2.46% w/w), FBNH (+7.18% w/w) and STANBIC (+3.19% w/w). Consequently, the ASI year-to-date (YTD) rose to 0.20%, while the market capitalization lost ₦304.49bn w/w to close at ₦27.96tn. Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 27.06%. A total of 600.78m shares valued at ₦5.05bn were exchanged in 4,309 deals.

For the fourth consecutive session, TRANSCORP (+9.87%) led the volume chart with 240.55m units traded. The stock received positive sentiment following the recent acquisition of a 5.52% stake in the company by Femi Otedola. Hence, the stock maintained the position of the most sought after stock throughout the week. In addition,  the release of FY 2022 audited results and dividend declaration of ACCESSCORP (+10.00%) led to it leading the value chart in deals worth ₦1.49bn. Market breadth closed positive at a 1.40-to-1 ratio with advancing issues outnumbering declining ones. ACCESSCORP (+10.00%) topped twenty (20) others on the leader’s log while CHAMPION (-9.96%) topped fourteen (14) others on the laggard’s table.

Find below key highlights of market activities

Dividend Information for 2023