Market wrap 13/09/2021

Another uninspiring trading session in the Nigerian equities market as the NGXASI closed on a flattish note, depreciating by -0.02% to 38,915.62 points. Today’s performance was on account of weakness in Guinness (-3.23%), Wapco (-1.79%), Oando (-4.09%), Afriprud (-1.56%), Custodian (-0.75%), FBNH (-0.66%), and UACN (-0.48%). On the contrary, gains recorded in Fidelitybk (+4.35%), UBA (+1.32%), Access (+1.09%), ETI (+1.00%), Stanbic (+0.26%), NB (+0.21%) and GTCO (+0.18%) salvaged some valuable points in the day.

Market turnover was at N 2.53 bln ($6.13 mln) boosted by offshore related trades in Nestle. The YTD return on the NGX index dipped to -3.36%. We expect the market to maintain a similar trading pattern in the coming session.

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