Market wrap 18/01/2022

Today’s trading activities ended on a positive note as the ASI appreciated by +0.58% to settle at 44,655.89 points. The index performance was due to upward movement recorded in Dangsugar (+7.35%), Berger (+5.84%), Buafoods (+4.21%), ETI (+3.45%), Conoil (+3.05%), Access (+2.11%), Buacement (+2.00%), GTCO (+1.39%), NGXGROUP (+1.29%), Zenithbank (+0.78%) and Flourmill (+0.18%) among others. On the contrary, transcorp (-1.85%), UBN (-0.88%), Wapco (-0.39%) declined in the session.

Turnover was N1.9b ($4.60m) buoyed by fragmented trades in GTCO,FBNH and NB. The YTD return on the NGX index rose to +4.52%. We expect the market to maintain a similar trading pattern in the coming session.



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