Market wrap 25/04/2024

The Nigerian equities market recovered from intraday losses to close marginally higher by 3bps, settling at 98,169.30 points. Late gains in Transcohot (+9.95%), MTNN (+0.20%), Transcorp (+0.72%), UBA (+0.44%), and Oando (+2.20%) turned the tide. Conversely, FBNH (-6.33%), Zenith (-0.55%), Wema (-4.29%), NB (-1.25%), and Ucap (-2.35%) all declined at end of the session. High capitalised stocks as: Nestle, Dangcem, Geregu, and Airtel all closed flat.

Turnover fell to N6.5bn ($5.2mn) and was boosted by trades in Zenith, MTNN, Access, NB. The year-to-date value of the index improved slighty and is currently +31.29%. We expect market to trade around current levels in the next session.

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