Market wrap 06/12/2021

The Nigerian equities market All Shares Index dipped further by -0.38% to 42,008.60 points at the close of today’s session. Sell off in Wapco (-9.94%) and GTCO (-0.62%), coupled with profit taking in Vitafoam (-8.68%), UBA (-5.06%) contributed to the weakness in the broad index performance. Also, Fidelitybk (-5.60%), Eterna (-4.13%),Unilever (-4.00%), Dangsugar (-3.13%), Custodian (-2.60%), Access (-2.25%), Fbnh (-0.85%) and UCAP (-0.51%) all declined. Consequently, market breadth closed in the negative region as 24 laggard and 10 gainers.

Turnover improved to N4.47b ($10.90m) though boosted by trades in Fbnh and GTCO. The YTD return on the NGX index tapered to +4.32%. We expect the market to maintain a similarly trading pattern in the coming session.

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