Market wrap 16/03/2022

The AIS (+0.05%) recouped some points at the close of today’s session amid mixed trading activities. The index performance was on account of gains recorded in MTNN (+0.24%), UACN (+3.29%), Okomuoil (+1.79%), FBNH (+1.29), and ETI (+1.27%). Other key mover were PZ (+9.79%), NGXGROUP (+4.02%), Stanbic (+0.87%), Flourmill (+0.79%), Unilever (+0.74%), and UBA (+ 0.59%). On the contrary, Zenithbank (-1.49%), Custodian (-1.39%), Ucap (-1.19%), Access (-0.95%), and GTCO (-0.19%) all declined.

Turnover was N2.54b ($6.1m) supported by fragmented trades in MTNN, Zenithbank, GTCO, Dangcem and Seplat . The YTD return on the NGX index improved to +10.88%. We expect the market to maintain a similar trading pattern in the coming session.

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