Market wrap 28/04/2022

Impressive performance on large cap stocks; Seplat (+9.09%) and MTNN (+0.94%) largely sponsored the gains recorded by the ASI (+0.55%) in today’s session. Other key movers  were Cadbury (+10.00%), CAP (+9.77%), Custodian (+8.33%), Guinness (+5.14%), Dangsugar (+2.73%), UBN (+2.50%), Dangsugar (+2.73%), Unilever (+2.22%), Zenithbank (+1.66%), Fbnh (+0.85%), UBN (+0.61%) and Accesscorp (+0.51%). On the contrary, Fidelitybk (-3.47%), Eterna (-3.27%), Mandard (-1.16%), Stanbic (-0.56%), Cutix (-0.42%), Presco (-0.31%) and Vitafoam (-0.22%) closed lower on sell pressure.

Turnover was N5.57b ($13.3m) supported by block trades in FCMB and mixed interest trades in MTNN, Seplat  and Guinness. The YTD return on the NGX index improved  to +14.33%. We expect the same trading pattern in the coming session .

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