Market wrap 23/03/2023

Trading activities in the Nigerian equities market closed on a negative note as ASI dipped marginally by 0.02% to settle at 54,924.08 points. The decline in the broad index was due to southward movement in Accesscorp (-2.25%), Mansard (-7.50%), Nahco (-2.44%), Ucap (-1.68%), Afriprud (-0.86%), Dangsugar (-0.54%), PZ (-0.46%) and Gtco (-0.20%). Though the session was relatively quiet, as most stock closed on a flattish note, Transcorphotel (+8.32%) and Zenithbank (+0.20) were notable in the gainers’ chat.

Turnover was N1.39bln ( $3.00mln) dominated by trades in MTNN. The YTD return on the NGX index dipped to +7.17%. We expect the same trading pattern in the coming session.

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