Market wrap 08/06/2022

Trading activities on the Nigerian equities market closed in the negative region as the NGX ASI retreated by -0.14% to settle at 53,193.98 points. Weakness in  Fbnh (-5.50%), Fidelitybk (-3.51%), ETI (- 2.18%), Accesscorp (-1.51%), Stanbic (-1.47%), and UBA (-0.64%) largely accounted for the southward movement on the ASI. Notwithstanding,  PZ (+3.17%), Unilever (+2.76%), Uacn (+1.84%), Dangsugar (+0.62%), Nahco (+0.38%), Glaxosmith (+1.39%) and Wapco (+0.36%) finished stronger.

Turnover was N 1.861b ($4.94m) supported by fragmented trades in Presco, Transcorp, Fbnh and NGXGROUP . The YTD return on the NGX index tapered  to +24.53%. We expect the same trading pattern in the coming session .



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