Market wrap 09/02/2024

A bit of recovery today, as the All-share index appreciated marginally by +0.62% to settle at 101,858.4 points at the close of the trading session. The index performance was on account of gains recorded in Maybaker (+10.00%), Geregu (+9.92%), Oando (+8.87%), MRS (+7.14%), Transcorp (+6.64%), Nascon (+5.98%), Flourmill (+5.82%) and FBNH (+3.03%) among others. On the contrary, Eterna (-9.80%), Presco (-5.79%), Fidelitybk (-3.95%), Unilever (-2.63%), NB (-2.44%), ETI (-2.08%) and NGXGROUP (-1.74%) finished lower.

Turnover was N7.35bln ($5.73mln), supported by trades in Geregu. The year-to-date return on the ASI improved to 36.22%. We anticipate the same trading pattern in the coming session.

 

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