Market wrap 25/03/2021

The ASI(+0.53%) rose marginally in today’s session on account gains recorded in telecommunication giant Mtnn (+1.24%) and cement manufacturer Wapco (+1.20%). Positive movement among selected lenders ‘stocks: Stanbic (+9.18%), ETI (+4.26%),Fcmb (+1.71%), Fidelitybk (+1.31%), Access (+1.22%) and Guaranty (+0.48%) contributed to the day’s performance. Though most stock finished flattish, Dangsugar (-2.67%) UBA (-0.72%), Uacn (-0.62%) and Oando (-0.59%) were prominent among the laggards.

Market turnover was impressive at N3.78bln ($9.91mln) though buoyed by cross trades in Mtnn and Guaranty. Year to date performance moderated to -2.43%. We expect the market to maintain a similar trading pattern in the coming session.

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