Market wrap 08/04/2022

Trading activities on the Nigerian equities market closed on a positive note as the NGXASI gained by 19bps at the close of today’s session. The performance of the broad index was supported by upward of movement in Ardova (+9.87%), FCMB (+7.17%), Conoil (+6.34%) GTCO (+2.45%), Guinness (+2.19%),Ucap (+1.55%), and UBA (+1.29%). Other key movers are Accesscorp (+1.03%), Wapco (+0.92%), Zenithbank (+0.88%), Fidelitybk (+0.85%), NB (+0.50%), NGXGROUP (+0.21%) and Jberger (+0.19%). Nevertheless, UACN (-3.81%), UBN (-1.64%), Sterlnbank (-1.34%), Honyflour (-1.14%), Glaxosmith (-0.88%), Fidson (-0.87%) and Flourmill (-0.16%) salvaged all declined.

Turnover was N1.75b ($4.20m) supported by fragmented trades Zenithbank, NGXGROUP and GTCO. The YTD return on the NGX index improved  to +9.17%. We expect the same trading pattern in the coming session .


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