Market wrap 09/06/2022

Trading activities on the Nigerian equities market closed on a flattish note  as the NGX ASI dipped marginally by -0.04% to settle at 53,170.73 points. Today’s performance was mainly on account of negative movement in NB (-1.10%), Zenithbank (-2.35%), Glaxosmith (-2.74%), UBA (-1.28%), ETI (-0.89%), GTCO (-0.89%), UACN (-0.45%) and NGXGROUP (-0.40%) among others. On the contrary, gains recorded in Intbrew (+4.23%), Oando (+3.33%), Cadbury (+2.10%), Wapco (+1.82%), Fidelitybk (+1.52%), and Stanbic (+0.30%) salvaged some valuable points.

Turnover was N 3.34b ($8.00m) supported by fragmented trades in Nestle, GTCO and MTNN . The YTD return on the NGX index tapered  to +24.47%. We expect the same trading pattern in the coming session .


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