Market wrap 21/03/2023

Today’s trading activities on the Nigerian equities market closed on a brighter note  as ASI appreciated marginally by 0.03% to settle at 54,904.68 points. Though investors maintained cautious approach, gains were recorded in Wapco (+2.17%), Zenithbank (+1.41%), Vitafoam (+1.08%), Stanbic (+0.68%), and NGXgroup (+0.18%). On the contrary, Cadbury (-5.83%), Intbrew (-4.30%), Afriprud (-1.67%), UBA (-1.23%),  Accesscorp (-1.11%), Fbnh (-0.46%), and GTCO (-0.40%) closed in the negative region.

Turnover was N1.58bln ( $3.4mln) dominated by trades in Zenithbank, GTCO and UBA. The YTD return on the NGX index dipped to +7.13%. We expect the same trading pattern in the coming session.

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