Market wrap 11/06/2021

Trading activities on the Nigerian equities market closed on a negative note as the NGXASI retreated by -0.13% to settle at 39,157.29 point. Losses recorded in telecommunication giant Mtnn (-1.39%), as well as negative movement in Fidelitybk (-2.18%), NB (-1.19%), Oando (-1.67%) and Guaranty (-0.34%) dragged the broad index southward. These offset points amassed in Seplat (+1.47%), Stanbic (+2.37%), Intbrew (+1.85%), Wapco (+0.48%), UBA (+0.70%), Fbnh (+0.70%) and Zenithank (+0.22%) among others.

Market turnover was N3.55bln ($8.60mln), boosted by trades in Zenithbank, Seplat and Guaranty. The YTD return on the NGX index closed at -2.76%. We expect the market to maintain a similar trading pattern in the coming session.

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