Market wrap 09/03/2022

Trading activities in the Nigerian equities market closed on a brighter note as the ASI appreciated marginally by +0.28% in the day. Today’s performance was largely on account of gains in selected comsumer goods names ;Nestle (+2.87%),Presco (+10.00%), PZ (+3.47%), NB (+3.01%), Okomoil (+1.48%), Flourmill (+1.31%). Also, points amassed in Ucap (+3.31%), Fbnh (+3.14%), Afriprud (+3.08%), UBA (+1.19%), Access (+1.00%), and UBN (+0.81%) contributed to the index northward movement. Nevertheless, Zenithbank (-1.12%), Uacn (-0.54%), and GTCO (+0.1-%) all declined .

Turnover was N5.86b ($14.00m) supported by mixed interest trades GTCO, Fbnh and Nestle. The YTD return on the NGX index appreciated to +10.70%. We expect the market to maintain a similar trading pattern in the coming session.

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