Market wrap 13/01/2022

It was a quiet trading day in the Nigerian equities market as the ASI (-0.01%) retreated marginally to settle at 44,604.74 points. Though most stock closed flat, weakness NEM (-10.00%), Custodian (-9.49%), UACN (-5.21%), UBN (-1.77%), Unilever (-1.49%), UCAP (-0.91%) and Stanbic (-0.80%). However gains in Transcorp (+9.71%), Intbrew (+4.04%), Fidson (+3.64%), Cutix (-1.15%), ETI (+0.58%), NGXGroup (+0.50%) and Zenithbank (+0.20%) salvaged some valuable points on the day.

Turnover was N3.65b ($8.80m) though boosted by trades in Seplat, and MTNN . The YTD return on the NGX index dipped marginally to +4.42%. We expect the market to maintain a similar trading pattern in the coming session.

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