MTNN, DANGCEM ACCESSCORP pushed stock index into positive terrain

Nigerian equities staged a late recovery as the All-Share index closed 0.46% stronger to settle at 64,743.96 points. The bulls overcame the bears as rebounds in index heavyweights, MTNN, DANGCEM alongside ACCESSCORP pushed the broader index into positive terrain. Having gained in one (1) of five (5) trading sessions this week, the ASI closed 0.89% lower w/w.

Bearish sentiments persisted over the course of the week as index heavyweights, AIRTELAFRI (-5.30% w/w), MTNN (-1.75% w/w), BUACEMENT (-2.83% w/w) drove the week’s losses outweighing gains in DANGCEM (+2.89% w/w), BUAFOODS (+4.40% w/w) and DANGSUGAR (+6.06% w/w). As a result, the ASI’s year-to-date (YTD) return dipped to 26.33%, while the market capitalisation shed ₦137.62bn w/w to close at ₦35.43trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 151.91%. A total of 537.58m shares valued at ₦9.39bn were exchanged in 5,893 deals. FBNH (+0.80%) led the volume and value charts with 242.85m units traded in deals worth ₦4.70bn.

Market breadth closed negative at 2.70-to-1 ratio with declining issues outnumbering advancing ones. CHAMPION (-8.24%) topped twenty-six (26) others on the laggard’s table while UPL (+6.67%) led nine (9) others on the leader’s log.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation