Market wrap 24/01/2022

Trading activities on the Nigerian equities market closed on a negative note as the ASI dipped marginally by -0.06% in the day. Today’s performance was largely on account of weakness in selected names ; NB (-1.46%), Ucap (-2.24%), Fbnh (-1.67%), Uacn (-1.64%), UBA (-1.18%), Unilever (-1.14%), Zenithbank (-0.78%), Afriprud (-0.76%), and Oando (-0.42%). Nevertheless gains recorded in Seplat (+3.30%), NNFM (+9.49%), Fidelitybk (+1.13%), Guinness (+0.71%) and Flourmill (+0.18%) salvaged some valuable points in the day.

Turnover was N2.89b ($6.90m)  supported by mixed interest trades in Seplat. The YTD return on the NGX index dipped to +7.52%. We expect the market to maintain a similar trading pattern in the coming session.



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