Market Wrap 22/07/2021

The NGXASI advanced by +1.67% on account of spike in Dangcem (+7.83%), and gains in Total (+10.00%) as investors responded to its impressive half year earning. Other key movers were Oando (+9.73%), Fbnh (+3.45%), Uacn (+1.50%), Jberger (+1.25%), Zenithbank (+0.82%), Dangsugar (+0.29%) and GTCO (+0.17%). On the contrary, Ardova (-3.23%), Stanbic (-0.73%), Access (-0.54%), Fidelitybk (-0.42%)  and Aiico (-8.70%) all declined.

Market turnover was meagre at N1.72bln ($4.19 mln), though buoyed by trades in GTCO and Zenithbank . The YTD return on the NGX index moderated to -4.18%. We expect the market to maintain a similar trading pattern in the coming session.

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