Market wrap 16/02/2021

The ASI declined marginally by 19bps in today’s trading session on account of losses recorded among the lenders Stanbic (-4.44%), ETI (-4.35%), UBA (-1.17%), Fbnh (-0.68%), Access (-0.59%) alongside sell down  in NB (-3.28%). Nevertheless, market breadth closed positively as Ardova (+9.06%), Seplat (+0.83%), Guinness (+7.32%),Uacn (+5.73%), CAP (+5.56%), Afriprud (+4.51%), Guaranty (+0.32%), and Dangsugar (+0.26%) among others salvaged some valuable points in the day.

Market turnover was N5.76bln ($15.07mln) buoyed by bookover in Seplat and mixed interest trades in Guaranty and Zenithbank. Year to date performance moderated to +0.56%. We expect the market to maintain a similar trading pattern in the coming session.

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