Market wrap 14/09/2021

Trading activities in the Nigerian equities market closed on a flattish note as the All Share Index appreciated marginally by +0.01% to 38,920.50 points. Mild gains recorded in Wapco (+2.27%), Vitafoam (+3.88%), Zenithbank (+0.42%), Flourmill (+0.35%) and Fidelitybk (+1.67%) supported the broad index performance. Nevertheless, UACN (-4.85%), Afriprud (-3.17 %), Oando (-2.25%), Dangsugar  (-1.70%),Glaxosmith (-0.81%), UBA (-0.65%) and GTCO (-0.37%) pulled back during the session.

Market turnover was meagre at N 1.87 bln ($4.55 mln) though boosted by fragmented trades in Access, MTNN, Stnabic and Wapco. The YTD return on the NGX index stood at -3.35%. We expect the market to maintain a similar trading pattern in the coming session.

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