Market wrap 13/05/2022

The upward trend in the domestic equities market persisted  as the NGX ASI gained +0.34% today and appreciated +4.25% for the week. Positive movement in Oil & gas giant Seplat (+8.33%) as well as gains in Flourmill (+9.22%), Buafoods (+5.27%), Transcorp (+9.66%), NNFM (+9.94%), Zenithbank (+2.08%), Jberger (+1.71%), GTCO (+1.27%), Dangsugar (+1.17%), Unilever (+0.71%), Accesscorp (+0.52%), and  CAP (+0.23%) sponsored the northward movement in the broad index. On the contrary, Intbrew (-9.74%), Stanbic (-5.71%), Glaxosmith (-5.39%), Uacn (-2.07%), Fbnh (-2.05%) and Wapco (-1.105) all declined.

Turnover was N3.57b ($8.6m) supported by trades in Wapco, GTCO, Seplat and Zenithbank. The YTD return on the NGX index improved  to +24.31%. We expect the same trading pattern in the coming session .


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