Market wrap 17/06/2021

The NGXASI (+0.13%) advanced in today’s session to settle at 38,615.11point, amid tepid trading activities . The performance was largely on account of positive movement in selected stocks in the insurance, consumer goods and Banking sectors. For Specifics Wapic (+9.43%),Lasaco (+7.91%), NB (+1.20%),Champion (+10.00%), Uacn (+1.57%),Guaranty (+1.78%),UBA (+1.38%), Zenithbank (+0.43%) and Fcmb (+1.92%) all advanced. Although most stock closed on a flattish, Unilever (-0.38%), Wapco (-0.48%), Intbrew (-1.82) finished lower.

Market turnover was N1.39bln ($3.37mln), boosted by trades in Zenithbank, Seplat, Guaranty and NB. The YTD return on the NGX index moderated to -4.11%. We expect the market to maintain a similar trading pattern in the coming session.

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