Market wrap 17/04/2023

Trading activities in the Nigerian equities market for the week commenced on a negative note as ASI depreciated  marginally by -1.49% to settle at 51,120.94points. The lull in the market was sustained as investors remained cautious toward risk evidenced in the southward movements recorded in MTNN (-6.67%), Afriprud (-5.45%), FBNH (-1.44%), UBN (-0.71%, Zenithbank (-0.45%) and Oando (-0.18%). On the contrary, gains in Transcorp (+9.47%), NGXgroup (+8.16%), UBA (+3.95%), Intbrew (+3.33%), Gtco (+2.46%), Fidelitybk (+0.59%) and Accesscorp (+0.56) salvaged some valuable points in the day.

Turnover was N1.56bln ( $3.4mln) dominated by trades in Zenithbank  and Fidelitybk. The YTD return on the NGX index dipped to -0.25%. We anticipate cautious trading sentiment in the coming days.


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