Market wrap 05/10/2021

The NGXASI advanced by +1.18% to settle at 40,716.66 points in today’s session, on account of gains recorded in telecommunication service provider Airtelafri (+6.29%) as well as positive movement in selected banking stocks ;FBNH (+9.76%), ETI (+5.56%), UBA (+4.61%), Access (+2.73%), Zenithbank (+1.70%) and GTCO (+1.42%).  Other key movers were Jberger (+4.94%), Afriprud (+4.07%), Vitafoam (+1.17%), Oando (+3.79%) and Dangsugar (+0.57%). On the  contrary, Intbrew (-6.25%),PZ (-5.22%), Flourmill (-2.34%), FCMB (- 1.02%) and Maybaker (-2.87%) all declined.

Turnover was N3.13b ($7.59m) though buoyed by trades in GTCO, Airtelafri, Fbnh and Access. The YTD return on the NGX index is  +1.11%. We expect the market to maintain a similarly trading pattern in the coming session.

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