Market wrap 04/01/2021

Trading activities on the Nigerian equities market closed on a positive note as the benchmark index accelerated by +2.18% in the first session of the year. Though the session recorded a tepid activity, the index’s performance was underpinned by gains in bellwethers stocks in the banking and Industrial goods. Specifically, Zenithbank (+3.63%), Fidelitybk (+9.92%), Fbnh (+9.79%), ETI (+8.33%), Access (+4.14%), and Guaranty (+3.55%) as well as  Buacement (+9.89%) and Wapco (+9.03%) all advanced . Other notable gainers includes Intbrew (+9.92%),Dangsugar (+5.11%), Flourmill (+3.65%) and UACN (+2.76%) closed on a positive note.

Market turnover was closed at N1.41bn ($3.67mln), buoyed by trades in Zenithbank, Wapco and Guaranty. The NSEASI ytd return was +2.18%. We expect the market to maintain this trading pattern in the next session..

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