Market wrap 24/12/2020

Trading activities in the domestic equities market closed on a flattish note as the ASI dipped marginally by +1bps in the day. Though most stock finished unchanged, weakness in Wapco (-4.76%), Guaranty (-0.61%), and Uba (-0.59%)  masked gains recorded in CAP (+7.61%), Flourmill (+5.08%), Fcmb (+4.14%), Fbnh (+1.43%) and Afriprud (+2.12%) . In the light of Christmas and New year holidays, the NSE announced that, the market will be closed on Friday , 25 December 2020; Monday, 28 December 2020; and Friday, 1 January 2021 to observe the public holidays declared by the Federal government of Nigeria.

Market turnover was N7.97b ($20.56m), driven by trades in Zenithbank, Guaranty and Flourmill. The NSEASI ytd return stood at +45.55%. We expect the market to witness similar sentiments in the coming session.


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