Market Wrap 20/10/21

Trading activities on the Nigerian equities market closed on a positive note as the NGXASI appreciated by +0.26% to settle at 41,249.71points. Today’s performance was largely on account gains in NGXGROUP (+10.00%), MTNN (+1.24%), Glaxosmith (+6.87%), FBNH (+3.83%), ETI (+ 2.88%), Wapco (+0.61%),UBA (+0.60%), and Zenithbank (+0.40%).  Nevertheless, Cadbury (-5.88%), UBN (-5.66%), Intbrew (-3.00%), Oando (-1.96%), UCAP (-1.55%), Access (- 1.04%) and UACN (-0.45%) all declined in the session.

Turnover was N5.78b ($12.30m) buoyed by mixed interest related trades in FBNH, GTCO and Nestle. The YTD return on the NGX index improved to +2.43%. We expect the market to maintain a similarly trading pattern in the coming session.

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