Market Wrap 02/07/2021

Trading activities on the Nigerian equities market closed on a positive note as the NGXASI edged higher by +0.83% to settle at 38,212.01 point. Today’s performance was on account of gains recorded in large cap stocks Dangcem (+4.03%) and Seplat (+1.45%) as well as upward movement in Nascon (+9.76%), Berger (+9.52%), UBA (+1.38%),Access (+1.18%) and Zenithbank (+0.42%) among others. Nevertheless, Fcmb (-7.46%), Unilever (-1.89%), Dangsugar (-1.08%) and GTCO (-0.18%) declined in the session.

Market turnover was N2.02bln ($4.89mln), boosted by trades in Zenithbank , Dangcem and Seplat. The YTD return on the NGX index moderated to -5.11%. We expect the market to maintain a similar trading pattern in the coming session.

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