Market wrap 18/01/2021

Pull back in cement manufacturer Dangcem (-1.01%) dragged the broad index southward in today’s session as the ASI dipped -23bps to settle at 41,082.38 points.  Also profit taking in Flourmill (-5.49%),FBNH (-3.95%), Guinness (-2.63%), UBA (-1.62%), Dangsugar (-1.44%), Access (-1.03%) and Zenithbank (-0.57%) contributed to the index performance. Nevertheless gains in Cadbury (+10.00%),Bocgas (+9.98%), Guaranty (+1.82%), Mansard (+5.62%), Uacn (+1.21%), Wapco (+0.84%), and  ETI (+0.77%) salvaged some valuable points in the day.

Market turnover impressive at  N4.34bln ($16.60mln) buoyed by mixed interest trades in Guaranty, and Zenithbank . Ytd performance moderated to +2.02%. We expect the market to maintain a similar trading pattern in the coming session.




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