Market wrap 09/01/2024

The Nigerian equities bourse continued its upward trend in today’s session as the All share index accelerated by +3.75% to close at 83,191.84. The positive sentiment was buoyed by positive movement in Dangcem(+3.72%), MTNN (+3.51%), Wapco (+9.21%), Zenithbank(+9.99%), Jberger (+9.95%), FBNH(+10.00%), Unilever (+10.00%) and Cadbury (+10.00%) among others all closed at limit up. Despite the overwhelming performance, Total (-10.00%), Fidson (-2.98%) and CWG (-4.22%) closed lower at the close  of the session.

Turnover was N24.68bln ( $27.51mln) dominated by trades in UBA, Accesscorp, GTCO and Zenithbank, Fidelitybk . The year to date return on the ASI increased to 11.26%. We anticipate the same trading pattern in the coming session.

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