Market wrap 02/06/2022

Recent bearish trend persisted in today’s trading session as the  Nigerian broad equities index, NGX ASI retreated by -0.25% in the day. Notable laggards were Airtelafri (-0.06%), FCMB (-6.57%), Intbrew (-5.66%), NB (-4.65%), Zenithbank (-1.92%), UBA (-1.90%), GTCO (- 0.22%) and Jberger (-0.19%). Though market breadth closed in the negative region, PZ (+9.57%), Nahco (+8.31%), and UCAP (+1.15%) all advanced.

Turnover was N 4.02b ($9.7m) supported by trades in Fbnh and Zenithbank . The YTD return on the NGX index tapered  to +23.07%. We expect the same trading pattern in the coming session .


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