Market wrap 04/03/2021

The NSEASI (-0.40%) retreated in today’s session to settle at 39,364.67 point on account of negative movement in Ardova (-9.85%), Jberger (-7.88%), Dangsugar (-6.25%), Presco (-5.87%), NB (-3.85%), UBA (-3.64%), Access (-3.11%) and Zenithbank (-0.98%) among others. Also, market breadth closed lower with about 4 laggards to every advancer. Nevertheless, CAP (+5.26%), Wapco (+3.59), Ucap (+2.56%) and Fcmb (+0.67%) all advanced.

Market turnover was N4.72bln ($12.36mln) buoyed by domestic interest related trades in Presco as well as mixed interest trades in Zenithbank and Guaranty. Year to date performance tapered to -2.25%. We expect the market to maintain a similar trading pattern in the coming session.


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