Market wrap 14/03/2023

Trading in the Nigerian equities market closed on negative note as the NGX ASI depreciated by -0.12% to settle at 55,772.90 points. The performance was largely on account of weakness in Gtco (-3.00%), Wapco (-1.92%), Nahco (-2.38%), UBA (-1.23%) and Accesscorp (-0.55%). Though most stock closed on a flattish note, Uacn (+3.26%), NGXgroup (+2.69%), FBNH (+1.40%) and Fidelitybk (+1.36%) closed in the positive region.

Turnover was N2.8bln ( $6.08mln) dominated by trades in Airtelafric, Zenithbank, Mtnn and GTCO. The YTD return on the NGX index dipped to +8.73%. We expect the same trading pattern in the coming session.

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