Market Wrap 21/09/2021

Lukewarm trading activities in the domestic equities market as the NGXASI (-0.08%) retreated further in today’s session to settle at 38,873.85 points. Sell pressure in selected banking stocks ; Zenithbank (-2.34%), Access (-1.11%), GTCO (-0.73%)  as well as weakness in Flourmill (-0.34%), offset gains in MRS (+9.75%), ETI (+2.94%), Stanbic (+2.63%), Vitafoam (+2.00%), Wapco (+1.36%), Fidelitybk (+0.84%) and UBA (+0.66%).

Market turnover was N 2.34 bln ($5.70 mln) though boosted by fragmented trades in GTCO, Zenithbank and Dangcem. The YTD return on the NGX index edged lower -3.47%. We expect the market to maintain a similar trading pattern in the coming session.

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