Market wrap 08/12/2021

Impressive performance on large cap stocks MTNN(+4.49%), Seplat (+2.46%), Wapco (+2.14%) supported the broad the ASI (+0.99%) in the day. Other key movers were Dangsugar (+6.67%), UBA (+5.30%), ETI (+4.29%), Access (+3.45%),Vitafoam (+1.75%) and GTCO (+0.62%). On the contrary, Nahco (-2.51%),FCMB (-1.02%), FBNH (-0.87%), and Fidelitybk (-0.83%) closed lower.

Turnover improved to N7.20b ($17.52m) though boosted by domestic related block trades in Fbnh . The YTD return on the NGX index improved to +5.37%. We expect the market to maintain a similarly trading pattern in the coming session.

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