Market wrap 21/06/2021

The Nigerian equities market closed on a brighter note as the NGXASI edged higher by +0.08% to settle at 38,678.48 point in the day. Though activities were relatively tepid, the session recorded gains in Jberger (+4.71%), Vitaform (+2.48%),Stanbic (+2.31%), Uacn (+2.06%), Conoil (+ 1.95%), Wapco (+0.48%),Zenithbank (+0.42%) and Flourmill (+0.34%). On the contrary, Oando (-1.68%),Afriprud (-1.56%), Fcmb (-1.25%), ETI (-0.96%), and Dangsugar (-0.28%) succumbed to sell pressure.

Market turnover was meagre at N1.76bln ($4.29mln), though boosted by trades in Zenithbank, Access and Seplat. The YTD return on the NGX index moderated to -3.95%. We expect the market to maintain a similar trading pattern in the coming session.

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