Market wrap 15/03/2022

Trading activities in the Nigerian equities market closed on a negative note as the ASI depreciated by -0.19% in the day. Today’s performance was on account of weakness in recorded in Seplat (-3.03%), as well as southward movement in Ucap (-2.32%), UBA (-2.30%), GTCO (-1.87%), Zenithbank (-0.74%), NGXGROUP (-0.44%), MTNN (-0.24%) and NB (-0.22%). On the contrary, gains in  Unilever (+3.85%), Fidelitybk (+2.81%), Access (+2.44%), Intbrew (+0.99%), Flourmill (+0.79%), Oando (+0.59%),  and Wapco (+0.21%) salvaged some valuable points on the day.

Turnover was N2.47b ($5.90m) though supported by trades in Seplat, Zenithbank and NB . The YTD return on the NGX index dipped to +10.83%. We expect the market to maintain a similar trading pattern in the coming session.

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