Market wrap 07/06/2022

Trading activities on the  Nigerian broad equities index closed on a brighter note as the  NGX ASI recorded marginal gains of +0.35% in the day. Key movers were Uacn (+4.55%), MTNN (+2.35%), UBN (+1.56%), NGXGROUP (+1.01%), Dangsugar (+0.94%), Wapco (+0.74%), UBA (+0.64%), Nahco (+0.63%) and Zenithbank (+0.21%). On the contrary, Cadbury (-5.93%), Cutix (-10.00%),Fbnh (-3.11%), ETI (-2.14%), Gtco (-0.44%) and Fcmb (-0.61%) all declined.

Turnover was N 2.74b ($6.61m) supported by trades in NGXGROUP, Airtelafric and UBA . The YTD return on the NGX index inched higher to +24.71%. We expect the same trading pattern in the coming session.

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