Market Wrap 26/07/2021

Trading activities on the Nigerian equities market closed on a positive note as the NGXASI edged higher by +0.47% to settle at 38,849.08 point. Today’s performance was largely on account of gains recorded in telecommunication giant Airtelafri (+2.33%) though on tiny volume and cement manufacturer Wapco (+5.29%).  Other key movers were Jberger (+7.88%), Ardova (+9.75%), Uacn (+8.57%), Flourmill (+3.02%), Bocgas (+9.74%), Oando (+ 9.82%), Dangsugar (+1.13%), and Access (+2.19%) among others. On the contrary, Ubn (-2.75%), Zenithbank (-0.80%), and vitafoam (-0.31%) pulled back in the session.

Market turnover was N2.24bln ($5.40mln), boosted by trades in GTCO, Zenithbank, and Access . The YTD return on the NGX index moderated to -3.53%. We expect the market to maintain a similar trading pattern in the coming session.

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