Market wrap 19/03/2024

The NGX All-Share Index (ASI) experienced a slight decline of -0.11% today, closing at 104,553.31 points. This dip was attributed to sell pressure notably observed in MTNN (-3.03%), Zenith Bank (-2.31%), GTCO (-1.71%), Transcorp (-3.63%), Fidelity Bank (-4.29%), Julius Berger (-4.96%), and NB (-1.69%). However, market breadth remained relatively flattish, with gains from FBNH (+9.06%), Lafarge (+2.78%), UBA (+1.57%), Intbrew (+9.89%), Oando (+4.00%), Flour Mills (+3.57%), UCAP (+3.60%), and Guinness (+4.24%) offsetting some losses.

Turnover decreased to 7.59NbIn ($4.8 million) and was driven by activities in FBNH, UBA, Zenith, and GTCO. The year-to-date return on the ASI moderated to 39.83%. Similar trading patterns are expected in the upcoming sessions.

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