Market Wrap 05/07/2021

Trading activities for the week commenced o a brighter note as NGXASI recorded marginally gain of +0.03% to settle at 38,222.01 point. Positive movement in Oando (+3.65%), Ucap (+2.24%),Stanbic (+1.86%), Access (+1.74%),UBA (+1.36%) and Zenithbank (+0.42%) largely accounted for the index performance. These offset weakness recorded in Presco (-6.04%), Dangsugar (-4.08%), Flourmill (-1.34%), Wapco (-1.18%), UBN (-0.89%) and GTCO (-0.51%).

Market turnover was N1.87bln ($4.54mln), boosted by trades in Zenithbank  and Flourmill. The YTD return on the NGX index moderated to -5.09%. We expect the market to maintain a similar trading pattern in the coming session.

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