Market wrap 18/12/2020

The ASI (+1.56%) remained unbeaten this week appreciating by +7.46% w/w to settle at 36,804.75 points. Gains in cement manufacturer Dangcem (+4.75%), Wapco (+0.46%) and telecommunication major Mtnn (+3,23%) largely contributed to the day’s performance. Other key movers were Ardova (+7.92%), Fcmb (+ 5.59%), Access (+2.40%), Fbnh (+1.43%), Guinness (+2.15) and Fbnh (+1.43%).

Market turnover was N4.36bln ($11.39m), buoyed by trades in Dangcem, Guaranty and Mtnn. The NSEASI ytd return improved to +37.12%.  We expect the market to maintain a similar trading pattern in the coming session.


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