Market wrap 25/01/2021

Lacklustre trading activities on the domestic equities market as the NGXASI up by +0.02% points in  the day. Though most stock closed flattish, gains in Seplat (+1.28%) as well as positive sentiment towards ETI (+9.94%), UBN (+0.85%), UBA (+0.62%), Fidelitybk (+0.37%), Custodian (+0.71%), and NGXGROUP (+0.49%) underpinned the index performance. On the contrary, Ucap (-1.38%), Access (-1.03%), FBNH (-0.85%), Zenithbank (-0.78%), GTCO (-0.58%) and Wapco (-0.39%) all declined.

Turnover was N3.58b ($8.60m) though boosted by trades in Seplat, Gtco and Zenithbank . The YTD return on the NGX index improved to +7.55%. We expect the market to maintain a similar trading pattern in the coming session.

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