Market Wrap 04/05/21

The Nigerian equities market retreated marginally as Profit taking in selected names dragged the broad index southward by -0.08% in the day. Though most stocks closed flattish, weakness in Wapco (-5.20%), Mtnn (-0.51%), Zenithbank (-1.12%), UBA (-1.37%) and Dangsugar (-0.29%) dampen the performance of the index. These masked gains recorded in Intbrew (+9.62%), Fbnh (+7.25%), Unilever (+4.28%), Okomuoil (+3.00%), Jberger (+2.87%), Access (+2.05%), Fcmb (+7.14%) and PZ (+6.00%) among others.

Market turnover was N4.65bln ($12.20mln) though boosted by trades in Zenithbank, Wapco, Fbnh, Mtnn, Guaranty and Access . Year to date performance edged lower to -1.16%. We expect the market to maintain a similar trading pattern in the coming session.

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