Market wrap 20/04/2021

Positive sentiment continued to trail the Q1 report of quoted companies as investors sought for profitable position even in other counters ahead of their earnings announcement. Consequently the NSEASI closed above 39,000.00, appreciating by 43 bps to settle at 39,015.58. Key movers were Mtnn (+1.04%), Ardova (+2.45%), Zenithbank (+2.77%),Guaranty (+1.69%), Dangsugar (+1.49%), Fidelitybk (+ 3.81%) and ETI (+3.09%) among other. These notwithstanding, UACN (-2.30%) Oando (-1.61%) and Fcmb (-0.68%) declined on profit taking.

Market turnover was at N2.70bln ($7.09mln) though buoyed by fragmented trades in Guaranty and Zenithbank. Year to date performance moderated to -3.12%. We expect the market to maintain a similar trading pattern in the coming session.

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