Market wrap 26/05/2021

The lull in the domestic equities market continued in today’s trading session, with the index depreciating marginally by -0.06% to settle at 38,233.68. Most stocks closed flattish, key laggards on the day were Flourmill (-5.25%); Zenithbank (-1.08%); Fidelitybk (- 0.87%), FBNH (-0.70%), UBA (-0.70%), Guaranty (-0.70%) and Dangsugar (-0.29%). These masked mild gains recorded in Uacn (+1.81%), Access (+1.23%), ETI (+0.97%), Nb (+0.87%) and Ucap (+0.32%).

Market turnover stood at N1.82bln ($4.40mln), boosted by  fragmented trades by local interests in Zenith Bank and Guaranty. The YTD loss on the index widened to -5.06%. We expect the market to maintain a similar performance  in the coming session.

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