Market wrap 05/05/2022

Today’s trading activities closed on a brighter note as the ASI rose by +1.43% amid sustained positive sentiment towards risk asset. The positive movement was board based, safe for Oil& gas and banking sectors, other sector trackers closed in the green region. Key movers  were Guinness (+10.00%), NB (+9.95%), Conoil (+9.92%), Intbrew (+9.82%), Mtnn (+6.06%), Presco (+7.80%), Okomuoil (+5.13%), Wapco (+1.69%) and Airtelafric (+1.01%) among others. On the contrary, weakness in Nestle (-2.78%), Vitafoam (-3.40%), Fcmb (-3.29%), Zenithbnak (-0.62%), GTCO (-1.88%), Fcmb(-3.29%), Unilever (-0.36%) and Betaglas (-2.06%) pared some of the day’s gain.

Turnover was N8.31b ($20.1m) supported by trades in Nestle, MTNN, and Zenithbank. The YTD return on the NGX index improved  to +14.33%. We expect the same trading pattern in the coming session .


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