Market wrap 14/01/2022

Trading activities ended on a negative note as the ASI dipped by -0.34% to settle at 44,454.67 points.  Profit-taking in industrial giant, Dangcem (-1.82%), as well as southward movement in NGXGROUP (-1.24%), GTCO (-0.98%), ETI (-0.58 %), and Flourmill  (-0.18%) underpinned the index’s performance Though market breadth closed in the negative region, Fisdon (+9.65%), Jberger (+3.64%), UBN (+1.80%), NB (+1.10%), Afriprud (+0.78%), Fidelitybk (+0.78%) and UBA (+0.61%) all advanced.

Turnover was N9.83b ($23.70m) buoyed by trades in Buafoods and MTNN. The YTD return on the NGX index dipped to +2.07%. We expect the market to maintain a similar trading pattern in the coming session.

 

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