Market wrap 10/06/2022

The ASI (+0.06%) recovered marginally in today, though amid tepid trading activities as investors remained on the side-line. The performance was on account of gains recorded in Fidson (+9.59%), Fcmb (+7.69), Presco (+2.96%), Fbnh (+2.43%), Cadbury (+1.47%),Stanbic (+1.47%), and Accesscorp (+0.51%). On the contrary, weakness in Mtnn (-0.04%), MRS (-9.76%), Oando (-3.23%), Afriprud (-2.52%), GTCO (-0.90%), Nahco (-0.38%), Fidelitybk (-2.09%) and Intbrew (-0.68%) erased some points in the day.

Turnover was N 2.65b ($6.35m) supported by fragmented trades in GTCO, Zenithbank, Mtnn and Seplat . The YTD return on the NGX index improved to +24.55%. We expect the same trading pattern in the coming session .

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