Market wrap 03/11/2021

The NGXASI retreated by -0.09% to settle at 41,975.45 points in today’s session, on account of sell pressure on Wapco (-2.61%),Ardova (-7.53%), Eterna (-6.16%), NGXGROUP (-3.00%), UBA (- 2.35%), Zenithbank (-2.00%) and GTCO (-1.06%). Nevertheless, FBNH (+6.00%),Oando (+2.89%), FCMB (+1.33%), Fidelitybk (+1.12%), and Ucap (+0.56%) salvaged some value in the day.

Turnover was N2.06b ($4.99m) buoyed by trades in Fbnh, Wapco and GTCO. The YTD return on the NGX index is  +4.23%. We expect the market to maintain a similarly trading pattern in the coming session.

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