Market wrap 26/02/2024

Today’s trading activities In the Nigerian equities market closed on a negative note as the All-Share Index (ASI) depreciated by -0.09% to settle at 101,995.21pts. This was due to weakness in consumer major; Nestle (-10.00%), as well as Eterna (-9.97%), Presco (-5.12%), Fidson (-9.82%), Dangsugar (-7.69%), Accesscorp (-4.30%), Mansard (-1.23%), Custodian (-1.10%), Fidelitybk (-0.96%), UCAP (-0.45%) and UBA (-0.42%). Nevertheless, gains recorded in Nascon(+10.00%), FBNH (+9.68%), Intbrew (+6.52%), FCMB (+4.40%), GTCO (+1.15%), Sterlingng (+1.15%) and Unilever (+0.66%) salvaged some valuable points for the day.

Turnover was N6.72bln ($4.18mln), buoyed by fragmented trades in FBNH, Zenithbank ,UBA and Nestle. The year to date return on the ASI decreased to 36.41%. We anticipate the same trading pattern in the coming session.

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