Market wrap 06/01/2022

The ASI (+0.30%) appreciated marginally in today’s session on account of gains in Buafoods (+10.00%), and recovery in Wapco (+3.11%). Also upward movement in Uacn (+5.56%), UBN (+3.70%), Ucap (+2.51%),NGXGroup (+2.50%),FBNH (+1.77%), Access (+1.60%), UBA (+0.62%) and Zenithbank (+0.20%) contributed to the performance. Though most stocks closed flattish, Oando(-5.15%),Unilever (-3.45%),ETI(-2.81%),BUACement (-1.43%), and Fidelitybk (-1.96%) declined in the session.

Turnover was N2.13b ($5.16m) though boosted by trades in Buacement, FBNH and Zenithbank . The YTD return on the NGX index improved to +2.09%. We expect the market to maintain a similar trading pattern in the coming session.


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