Market Wrap 14/07/2021

Mixed sentiment in today’s session as the NGXASI appreciated marginally by +0.04% to closed at 37,872.55 points.  Gains in large cap stocks; Total (+6.06%) and Mtnn (+0.61%) largely accounted for the day’s performance. Other key movers were Uacn (+1.01%), Pz (+1.75%), Fidelitybk (+0.86%), Fbnh (+0.69%) and Ucap (+0.32%). Though most stock closed on a flattish note, Access (-2.17%), Zenithbank (-1.23%) declined on profit taking.

Market turnover was N2.14bln ($5.19mln), boosted by trades in Zenithbank,, Mtnn, and GTCO. The YTD return on the NGX index moderated to -5.96%. We expect the market to maintain a similar trading pattern in the coming session.

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