Market wrap 19/04/2023

A bit of breather on the downward trend  in the Nigerian equities market as the ASI appreciated marginally by +0.15% to close at 51,209.01 point. The performance on the index was due to gains recorded in Transcorp (+9.85%), Intbrew (+6.74%), Stanbic (+3.19%), PZ (+2.59%), Nahco (+2.16%), Fidelitybk (+2.13%), Accesscorp (+1.69%), UBA (0.64%) and Zenithbank (+0.23%). On the contrary, NB (-1.50%), Wapco (-1.47%), Afriprud (-0.92%), Fcmb (-0.86%) and Nscon (-0.76%) closed in the red zone at the close of the session.

Turnover was N2.03bln ( $4.4mln) dominated by trades in Transcorp, Gtco, Zenithbank  and MTNN. The YTD return on the NGX index moderated to -0.08%. We anticipate cautious trading sentiment in the coming days.

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