Market wrap 07/12/2021

Trading activities on the Nigerian equities market closed on a brighter note as the ASI recorded a marginal gain of +0.02% in the session. The performance was on account of recovery in Wapco (+5.41%), Zenithbank (+2.13%), GTCO (+0.84%), ETI (+1.88%), UBA (+0.67%), as well as positive movement in Guinness (+0.55%) and Vitafoam (+0.25%). However, Seplat (-5.38%),Dangsugar (-3.23%), Flourmill (-2.25%), FBNH (-1.71%), UCAP (-1.02%), NGXGROUP (-0.88%) and NAHCO (-0.28%) declined on sell pressure.

Turnover improved to N6.62b ($16.12m) though boosted by trades in Fbnh ,GTCO and Seplat. The YTD return on the NGX index tapered to +4.34%. We expect the market to maintain a similarly trading pattern in the coming session.

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