Market wrap 30/12/2020

The Nigerian equities market sustained its bullish run in today’s session as the ASI appreciated by +1.03% settle at 39,512.31 points. Gains in cement manufacturer Buacement (+10.00%) coupled with points amassed in Intbrew (+10.00%), Eterna (+10.00%), Glaxosmith (+1.47%), Fbnh (+ 1.41%) , Fcmb ( +1.00%) and Uba (+0.59%) largely contributed to the day’s performance. Though  market breadth closed in the positive region, Flourmill (-5.45%), UBN (-5.36%), Access (-2.23%) , Cadbury (-2.2%) , Guinness (-1.55%) and Guaranty (-0.61%) all declined in the session.

Market turnover was impressive at  N11.50bln ($29.96m), buoyed by 8.04bln ($ 20.94mln) trade in Dangcem as the industrial giant commences its share buyback. The NSEASI ytd return improved to +47.20%.  We expect the market to maintain a similar trading pattern in the coming session.


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