Market wrap 01/06/2022

The Nigerian equities market remain pressured on profit taking as the NGX ASI dipped marginally by -0.03% to settle at 52,974.15 points. Weakness in Okomuoil (-10.00%), Conoil (-8.35%), FBNH (- 4.62%),Unilever (-4.59%), Accesscorp (-1.00%), Flourmill (-0.57%), and Oando (-0.18%) accounted for the day’s performance. On the contrary,  Eterna(+9.90%), Afriprud (+3.45%), Buafoods (+3.11%), Dangsugar (+2.94%), UBA (+1.94%) Intbrew (+0.63%),PZ (+0.44%  and GTCO (+0.22%) salvaged some valuable point for the day.

Turnover was N 3.59b ($8.65m) supported by trades in Airtelafric, Conoil, GTCO, and MTNN . The YTD return on the NGX index tapered  to +24.01%. We expect the same trading pattern in the coming session .

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