Market wrap 12/04/2022

Trading activities on the Nigerian equities market closed on a brighter note as the NGXASI recovered by 72bps at the close of today’s session. The performance of the broad index was supported by upward of movement in equities heavy weight Seplat (+2.60%), and MTNN (+1.25%). Other key movers were CAP (+10.00%), Berger (+9.68%), NB (+7.84%), Dangsugar (+7.74%), Zenithbank (+5.83%), Accesscorp (+4.00%), Vitafoam (+3.89%), GTCO (+3.05%), Nascon (+2.56%), Wapco (+1.10%), Jberger (+0.77%) and UBA (+0.63%). Nevertheless, AIICO (-4.35%), FBNH (-3.81%), NPFMCRFBK (-1.90%), UBN (-1.61%), Fidelitybk (-1.33%), and NEM (-0.31%) all declined.

Turnover was N4.58b ($11.00m) supported block trades in Seplat and NB as well as fragmented trades Zenithbank, and GTCO. The YTD return on the NGX index improved  to +10.51%. We expect the same trading pattern in the coming session.


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