Market wrap 20/01/2022

Trading activities ended on a brighter note as the ASI appreciated by +1.01% to settle at 45,890.52 points. The index performance was largely on account of upward movement recorded in Dangcem (+5.52%) as the industrial giant round up on the second tranche of its share buy-back. Also,  gains in Cadbury (+7.95%), NGXGROUP (+6.30%), Ucap (+2.26%), Intbrew (+1.01%), Afriprud (+0.77%), UBA (+ 0.61%), Access (+0.51%), GTCO (+0.20%) and Zenithbank (+0.19%) contributed to the index’s northward movement. On the contrary, Dangsugar (-2.74%), Stanbic (-2.70%), Ardova (-2.60%), and Wapco (-0.39%) all declined

Turnover was very impressive at N31.24b ($75.32m) buoyed by trades in Dangcem. The YTD return on the NGX index rose to +7.43%. We expect the market to maintain a similar trading pattern in the coming session.


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