Market wrap 03/03/2021

Feeble trading activities on the Nigerian equities market as NSEASI depreciated by -44bps to settle at 39,522.06 points. The broad index performance was dampen by weakness in telecommunication service provider Mtnn (-2.30%), as well as negative movement in Wapco (-7.14%), Uacn (-3.87%), Dangsugar (-1.40%), UBN (-0.97%), Access (-0.62%) and Zenithbank (-0.39%). Nevertheless, Oil & gas major Seplat (+10.00%), along with Presco (+1.95%), Unilever (+1.92%), Guaranty (+0.63%),UBA (+0.61%) and Guinness (+0.22%) edged higher to salvage some value points in the day.

Market turnover was N4.13bln ($10.78mln) though boosted by trades in Zenithbank, and Guaranty. Year to date performance slipped lower to -1.86%. We expect the market to maintain a similar trading pattern in the coming session.

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