Market wrap 21/01/2022

The ASI (+0.15%) appreciated marginally to settle at 45,957.35 points amid quiet trading activities. Today’s performance was largely on account of gains recorded in Oil & gas major, Seplat (+4.86%) coupled with decent gains in NB (+1.48%), NNFM (+ 9.72%), Vitafoam (+5.46%), GTCO (+1.18%), ETI (+1.12%), NGXGROUP (+0.99%), Flourmill  (+0.88%), Afriprud (+0.76%), and Oando (+0.21%). On the contrary, Custodian (-2.76%), Fidelitybk (+1.48%), Ucap (-1.33%), Access (-0.51%), Stanbic (-0.28%), and Zenithbank (-0.19%) finished lower.

Turnover was N2.40b ($5.80m) though boosted by trades in Seplat, NB and Fbnh . The YTD return on the NGX index improved to +7.59%. We expect the market to maintain a similar trading pattern in the coming session.

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