Market wrap 24/07/2023

Trading activities in the Nigerian equities market closed on a brighter note as the All share index improved by +0.41% to settle at 65,268.28 points. Today’s performance was due to gains in Stanbic (+9.97%), Nascon (+10.00%),Glaxosmith (+10.00%), Fbnh (+9.82%), Okomuoil (+5.87%), UACN (+3.64%) and Dangsugar (+2.59%). However, NGXgroup (-8.93%), Unilever (-8.60%),Maybaker (-7.52%), Accesscorp (-2.18%), Flourmill (-1.88%), Zenithbank (-1.28%), and UBA (-0.68%) declined at the close of the session.

Turnover was N12.94bln ( $16.64mln) although boosted by N7.44bln ( $9.56mln) worth of trade in FBNH and fragmented trades in UBA and GTCO. We anticipate the positive sentiment to persist in the coming session.


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