Market wrap 17/12/2020

The Nigerian equities market sustained its bullish run in today’s session as the ASI appreciated by 2.10% settle at 36,239.62 points. Gains in telecommunication service provider Airtelafric (+10.00%), and cement manufacturer Dangcem (+5.00%) largely contributed to the day’s performance. Other key movers were Ardova (+9.96%), Unilever (+ 9.54%), ETI (+3.97%), UBN (+3.77%), UBA (+0.15) and Zenithbank (+0.70%). Though most stocks finished flattish, Guaranty (-0.59%), Uacn (-0.56%), Oando (-1.33%), PZ (-2.00%) Fidelitybk (-2.31%) and Wapco (-0.45%) closed lower.

Market turnover was N4.35bln ($11.37m), buoyed by trades in Dangcem and FBNH. The NSEASI ytd return improved to +35.01%.  We expect the market to maintain a similar trading pattern in the coming session..


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