Market Wrap 01/07/2021

Trading activities on the Nigerian equities market closed on a flattish note as the NGXASI dipped marginally by -0.02% to settle at 37,898.9 point in the day. Though most stocks closed unchanged, the index was dragged southward due to weakness recorded in GTCO (-1.34%), Dangsugar (-0.80%), UBA (-0.68%), Oando (-8.51%), Cadbury (-0.58%) and Flourmill (-0.17%). Nevertheless, Pz (+8.57%), Vitafoam (+2.27%), Afriprud (+1.69%), Fbnh (+0.68%), Zenithbnak (+0.63%), Access (+0.59%),and Nahco (+0.42%) all advanced.

Market turnover was N2.73bln ($6.63mln), though buoyed by book-over trades in GTCO ($2.27mln) and block trade of ($0.73ml) in Stanbic. The YTD return on the NGX index edge lower to -5.89%. We expect the market to maintain a similar trading pattern in the coming session.

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