Market wrap 02/11/2021

Trading activities on the Nigerian equities market closed on a positive note as the NGXASI appreciated marginally by +0.09% to settle at 42,013.39 points. The mild recovery on the broad market gauge was on account of gains recorded in Buacement (+3.47%), Intbrew (+9.62%), Oando (+4.09%) and Dangsugar (+0.91%). On the contrary, Uacn (-9.73%), FBNH (-6.98%),ETI (-3.53%) and Wapco (-2.55%) among others closed lower on sustained profit taking.

Turnover was N3.28b ($7.96m) though boosted by trades in Zenithbank, UBA and FBNH. The YTD return on the NGX index improved to +4.33%. We expect the market to maintain a similarly trading pattern in the coming session.

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