Market wrap 25/02/2021

The ASI (-0.31%) slipped as recent positive sentiment on the back of Zenithbank’s Q4 financial publication came to a halt. Profit taking resumed among the banks; ETI (- 6.31%), Access (-4.71%), UBA (-4.09%), Fcmb (-3.22%), Zenithbank (-1.71%), Fbnh (-0.68%). Also southward movements were observed in UACN (-5.03%), NB (-3.70%), CAP (- 1.30%) and Dangsugar (-0.55%) which soured the index’s performance.

Market turnover was N3.71bln ($9.69mln) though boosted by trades in Zenithbank, Dangsugar, and Guaranty. Year to date performance tapered to -0.44%. We expect the market to maintain a similar trading pattern in the coming session.


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