Market wrap 22/02/2024

Today’s trading activities in the Nigerian equities market closed on a negative note as the All-Share Index (ASI) depreciated by -0.12% to settle at 102,393.2pts. The southward movement on the equity’s gauge was on account of weakness in PZ (-9.89%), Wemabank (-9.93%), UACN (-9.36%), Stanbic (-8.33%) Transcorp (-2.95%), Accesscorp (-2.55%) and Oando (-1.74%).Nevertheless, gains recorded in Wapco(+1.13%), Fidelitybk (+3.48%), Intbrew (+3.37%), GTCO (+2.46%), FBNH (+1.05%), and Zenithbank (+0.70%) salvaged some valuable points.

Turnover was N4.9bln ($3.1mln), buoyed by fragmented  trades in FBNH, UBA, Airtelafri and Zenithbank. The year to date return on the ASI decreased to 35.39%. We anticipate the same trading pattern in the coming session.

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