NGX All-Share Index ends the week strong, gains 0.11% w/w

Closing the week, the Nigerian equities ended on a negative note as the All-Share Index closed 0.17% weaker to settle at 66,454.57 points. Gains in Telco Heavyweight, AIRTELAFRI (+8.53%), alongside ZENITHBANK (+0.31%) and GTCO (+0.14%) drove the market’s strong performance outweighing losses in Industrial Heavyweight, DANGCEM (-8.79%), alongside WAPCO (-0.34%), and NB (-1.28%).  Having gained in two (2) of four  (4) trading sessions this week, the ASI closed 0.11% higher w/w.

Over the course of the week, AIRTELAFRI (+8.53% w/w), BUACEMENT (9.94% w/w) and ZENITHBANK (+1.75% w/w) were the major drivers of the broader index positive performance offsetting losses in MTNN (-5.30% w/w), DANGCEM (-8.79%), and FBNH (-0.92% w/w). Consequently, the year-to-date (YTD) return fell to 29.66%, while the market capitalization gained ₦178.58bn w/w to close at ₦36.51trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 88.75%. A total of 374.09m shares valued at ₦8.93bn were exchanged in 6,822 deals. UBA (+2.69%) led the volume chart with 52.42m units traded while BUACEMENT (+0.00%) led the value chart in deals worth ₦4.06bn.

Market breadth closed negative at a 1.13-to-1 ratio with declining issues outnumbering declining ones. OANDO (+9.55%) led seventeen (17) others on the laggard’s log while AIRTELAFRI (+8.53%) topped fifteen (15) others on the leader’s table.

Find below key highlights of market activities

Dividend Information for 2023