Market wrap 06/03/2023

Trading activities commenced for the week on a positive note as the ASI appreciated by +0.14% to settle at 55,605.57 points. Today’s performance was on account of upward movement Jberger (+10.00%), MTNN (+1.22%) as well as gains in Ucap (+1.37%), Okomuoil (+1.27%), UBA (+1.16%), UACN (+0.59%), Dangsugar (+0.52%) and Wapco (+0.19%). Nevertheless market breadth closed in the negative region as Oando (-4.39%), NGXgroup (-2.21%), Custodian (-1.69%), Flourmill (-1.64%), FBNH (-1.29%), Zenithbank (-1.13%), NB (-0.97%) GTCO (-0.75%) and Accesscorp (-0.53%) finished lower in the day.

Market turnover printed at N2.48bln ( $5.36mln) buoyed by trades in Geregu and GTCO. The YTD return on the NGX index improved to +8.50%. We expect the same trading pattern in the coming session.


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