Market wrap 08/03/2024

Today’s trading activities on the Nigerian equities market closed on a positive note as the All-Share Index (ASI) appreciated by +0.75% to settle at 100,335.3 pts. This performance was due to recovery in Dangsugar (+10.00%), Mtnn (+10.00%), and sustained bullish run in Transpower (+9.99%). Other notable gainers were, Nascon (+9.92%), Oando (+9.09%), Maybaker (+4.90%), Fcmb (+ 4.17%), intbrew (+4.17%), Afriprud (+ 4.00%), and mansard (+2.00%). On the contrary, Guinness (-10.00%), Transcorp (-9.95%), ETI (-7.83%), NGXGROUP (-5.78%), FBNH (-4.38%), NB (-3.65%), Stanbic (-3.20%), Accesscorp (-3.15%), UCAP (-2.68%), UBA (-2.27%), and GTCO (-1.57%) closed lower.

Turnover was N17.73bln ($11.29mln), buoyed by trades in Transcorp, Dangcem Transpower and FBNH. The year-to-date return on the ASI increased to 34.19%. We anticipate the same trading pattern in the coming session.

 

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