Market wrap 18/02/2021

The NSEASI declined further by -0.63% as sell pressure on bellwether stocks dragged the index lower. Weakness in Mtnn (-0.94%),Wapco (-1.73%) and Flourmill (-4.67%) as well as sell off among the lenders; UBA (-4.76%), Zenithbank (-3.60%), Access (-2.41%), Guaranty (-1.94%) and Fcmb (-5.00%) contributed to the day’s performance. Though most stocks closed flattish, Guinness (+3.53%), ETI (+0.91%), and Nacho (+6.51%) all advanced.

Market turnover was N4.75bln ($12.38mln) though boosted by trades in Guaranty, Fbnh and Zenithbank. Year to date performance swung to -0.15%. We expect the market to maintain a similar trading pattern in the coming session.


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