Market wrap 01/03/2021

Trading activities on the Nigerian equities market remained feeble though the ASI rose marginally by 33bps to settle at 39,931.63 points.  Buacement (+3.82%), UACN (+6.67%), UBA (+2.45%), Zenithbank (+1.38%) and ETI (+0.96%) were the silver lining in the index performance. Nevertheless, market breadth closed in the negative with 29 laggards and 12 gainers.  Key laggards were  Nascon (-9.97%), UBN (-3.74%), FBNH (-3.40%), CAP (-2.56%), Wapco (-2.16%) and Access (-1.21%) among others.

Market turnover was meagre at  N1.88bln ($4.93mln) though boosted by trades in Zenith bank. Year to date performance moderated to -0.84%. We expect the market to maintain a similar trading pattern in the coming session.

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