Market Wrap 26/04/21

The Nigerian equities market sustained its rebound as the ASI appreciated by 5bps to settle at 39,319.75 points . Quoted companies’ Q 1 2021 report continue to support the index as NB (+1.56%), Wapco (+1.12%), ETI (+0.96%) all advanced. Other key movers were Guaranty (+ 0.32%), Access (+ 0.67%), Fidelitybk (+ 0.90%), Fcmb (+0.35%) and Ucap (+2.77%). Notable laggards were Ubn (-2.00%), Uacn (-0.46%), Dangsugar (-2.79%) and Zenithbank (-0.45%).

Market turnover was N2.06bln ($5.39mln) though boosted by trades in Guaranty and Zenithbank. Year to date performance moderated to -2.36%. We expect the market to maintain a similar trading pattern in the coming session.

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