Market wrap 19/01/2022

Impressive performance in large cap stocks, Airtelafric (+10.00%) and Seplat (+4.36%) supported the ASI (+1.73%) to finish in the positive region. Other key movers were UBN (+4.46%), Glaxosmith (+0.84%), Afriprud (+0.78%), Berger (+0.61%), Access (+0.52%) and Zenithbank (+0.39%) . Though most stock closed flattish, NGXGROUP (-3.05%), Fcmb (-2.64%), Ucap (-0.90%), ETI (-0.56%), Nahco (-0.53%) and GTCO (-0.20%) went southward.

Turnover was N8.93b ($21.50m) buoyed by trades in Dangcem ,GTCO, and FBNH. The YTD return on the NGX index rose to +6.35%. We expect the market to maintain a similar trading pattern in the coming session.


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