Market Wrap 15/07/2021

The NGXASI (-0.01%) recorded marginal dip in today’s session to settle at 37,866.90 point, amid tepid trading activities. The performance was largely on account of negative movement in selected stocks in the consumer goods and Banking sectors. For Specifics; NB (-3.33%),Dangsugar (-1.12%), Honyflour (- 0.61%), GTCO (-0.51%),Fbnh (-0.69%), and Sterlnbank (-0.64%) all declined. Nevertheless, market breadth close in the positive region as the Fidelitybk (+2.13%), Zenithbank (+1.25%), Fcmb (+1.01%), Stanbic (+0.74), Wapco (+0.70%), UBA (+0.66%)  and Nahco (+ 0.44%) finished higher.

Market turnover meagre was N0.93bln ($2.25mln), though boosted by trades in Mtnn, Zenithbank, and NB. The YTD return on the NGX index moderated to -5.97%. We expect the market to maintain a similar trading pattern in the coming session.

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