Market wrap 26/04/2024

Today’s trading on the NGX was flatish, with a 1bp increase in the market index. The day was saved by recoveries in Fidelity (+4.44%%), UBA (+0.88%), Stanbic (+10.00%), Access (+3.75%), and FBNH (+10.00%) which muted declines in Zenith’s (-10.44%) dividend markdown and sellofs in Nestle (-3.01%), GTCO (-1.25%), NB (-2.90%), Wema (-6.72%), and FCMB (-2.14%). Elsewhere, Dangcem, Geregu, and Airtel—some of the index major weights, hardly traded today.

Trades in UBA, Zenith and GTCO helped to drive the N5.0 billion ($3.96 million) turnover.

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