Market Wrap 28/06/2021

Today’s trading activities on the domestic equities market closed on a flattish note as the NGXASI inched up by +0.0033% to settle at 37,659.51point. Though most stocks closed unchanged, key movers were Fidson (+7.91%) Fcmb (+3.33%), Vitafoam (+2.81%), Ucap (+1.65%), UBA (+1.38%), Access (+1.19%), Wapco (+1.19%) and Flourmill (+0.17%). On the contrary, Bocgas (-9.95%), Conoil (-4.31%), Sterlnbank (-3.09%), Oando (-3.00%), Presco (- 1.84%),Fbnh (-0.69%) and Zenithbank (-0.63%) all declined.

Market turnover was decent at N3.44bln ($8.33mln), boosted by block trades in Mtnn and Nestle as well as fragmented trades in GTCO. The YTD return on the NGX index stood at -6.48%. We expect the market to maintain a similar trading pattern in the coming session

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