Market wrap 15/09/2021

The NGXASI (+0.12%) advanced  in today’s session on account gains recorded in telecommunications giant MTNN (+1.45%) as well as upward movements in GTCO (+0.74%), FBNH (+1.33%), Oando (+6.21%), Maybaker (+ 0.67%) and UCAP (+0.61%). Nevertheless, market breadth closed in the negative region, as oil & gas major;  Seplat (-6.54%) nosedived while Zenithbank (-0.63%), Fidelitybk (-1.23%) and Glaxosmith (-0.82%) all closed lower.

Market turnover was N 2.97 bln ($7.22 mln) though boosted by block trades in MTNN, Nestle and Seplat. The YTD return on the NGX index stood at -3.23%. We expect the market to maintain a similar trading pattern in the coming session.


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