Market wrap 31/10/2022

Today’s trading activities on the Nigerian equities market closed on negative note as the NGX ASI dipped by -0.17% to settle at 43,839.08 points. Though most stock closed on a flattish note, negative movement in ETI (-9.55%), Ucap (-4.60%), NGXGROUP (-2.68%), Oando (-2.27%),GTCO(-1.68%), Vitafoam (-0.74%), Zenithbank (-0.50%) and Mtnn (-0.05%). On the contrary, gains recorded in Nahco (+9.88%), Fidelitybk (+2.44%), Accesscorp (+1.30%), UBA (+0.70%) and Fbnh (+0.51%) salvaged some valuable point in the day.

Turnover was N3.47bln ( $7.9mln) dominated by block trade in Seplat and MTNN. The YTD return on the NGX index tapered to +42.63%. We expect the same trading pattern in the coming session .

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