Market wrap 22/12/2020

Today’s trading activities ended on a positive note as the ASI (+1.20%) remained unbeaten to settle at 37,893.61 points. Gains in cement manufacturer Dangcem (+6.34%), as well as positive movement in Eterna (+10.00%), Cadbury (+4.05%), PZ (+2.80%), UBA (+2.44%), Access (+1.18%), Zenithbank (+0.82%) and Guinness (+0.52%0  largely contributed to the day’s performance. Nevertheless, market breadth closed in the negative as CAP (-4,75%), Intbrew (-3.28%), Wapco (-2.22%), Guaranty (-1.49%), Unilever (-0.36%) and Dangsugar (-0.28%) all declined.

Market turnover was impressive at  N10.29 bln ($26.44m), buoyed by trades in Dangcem, Mtnn, Guaranty and Zenithbank. The NSEASI ytd return improved to +41.17%.  We expect the market to maintain a similar trading pattern in the coming session.


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