Market wrap 17/01/2024

The bulls remained dominant on the Nigerian equities market as the All share index appreciated by +2.38% to settle at 90,063pts. The performance was on account of positive drive in Guinness (+10.00%), Dangcem (+9.86%), Buacement (+9.99%), Transcorp (+9.97%), Intbrew (+9.95%), Cadbury (+9.81%), Geregu (+9.49%), and Buafoods (+5.49%) among others. On the contrary, Dangsugar (-9.95%), NGXgroup (-9.84%), Nascon (-7.76%), Unilever (-6.55%), FBNH (-5.79%), Stanbic (-5.11%),Jberger (-4.34%), UBA (-4.27%),  and Wapco (-2.75%) finished lower at the close  of the session.

Turnover was N16.38bln ( $17.76mln) dominated by trades in NB, Transcorp, Zenithbank ,and Accesscorp. The year to date return on the ASI increased to 20.45%. We anticipate the same trading pattern in the coming session.

 

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