Market wrap 23/12/2020

The Nigerian equities market sustained its bullish run in today’s session as the ASI appreciated by 2.40% settle at 38,803.74 points. Gains in telecommunication service provider Airtelafric (+9.99%), and cement manufacturer Buacement (+9.09%) largely contributed to the day’s performance. Other key movers were Uacn (+2.05%), NB (+1.82), Guinness (+ 1.56%), UBA (+1.19%),  ETI (+0.77%), and Wapco (+0.23%). Market breadth closed in the positive region with about four gainers to every laggard.

Market turnover was impressive at  N18.74 bln ($48.43m), buoyed by 8.1bln ($ 20.9 mln) off  market trade in Access and crosses in Buacement, Airtelafric, Flourmill, Dangcem  Zenthbank and Mtnn. The NSEASI ytd return improved to +44.56%.  We expect the market to maintain a similar trading pattern in the coming session.


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