Market wrap 02/11/2022

The Nigerian equities market closed today’s session on a brighter note, as late minute spike in Dangcem (+8.84%) supported the NGX ASI to finish higher by +1.23% in the day. Though market activities remained subdued, other notable gainers were NGXGROUP (+1.50%), FBNH (+1.10%), Unilever (+0.72%), Buafoods (+0.72%) and ETI (+0.50%). On the contrary, market breadth closed in the negative region as MRS (-9.65%), UBA (-4.93%), NB (-3.70%), MTNN (-0.46%) and Zenithbank (-0.25%) succumbed to sell pressure.

Turnover was N1.53bln ( $3.46mln) boosted by fragmented trades in Mtnn, Accesscorp, Gtco and Zenithbank  The YTD return on the NGX index improved to +3.67%. We expect the same trading pattern in the coming session .


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