Market wrap 05/12/2023

The  bull dominated today’s trading activities as the All share index appreciated marginally by +0.43% to 71,250.17 point. Today’s performance was on account of sustained upward trend in FBNH (+9.86%), as well as gains recorded on NNFM (+9.69%), Accesscorp (+6.32%), UACN (+4.92%), Buacement (+4.70%), Glaxosmith (+2.72%) and Wapco (+1.36%) among others. Also market breadth closed in the positive region though Airtelafric (-2.06%), Unitybnk (-4.46%), FCMB (-1.45%), NGXgroup (-1.14%) and Oando (-0.43%) succumbed to sell pressure.

Turnover was N11.11bln ( $13.97mln)  dominated by trades in  NIDF, Airtelafric, MTNN  and UBA. We anticipate the same trading pattern in the coming session.

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