Market Wrap 31/08/2021

The month ended with the NGXASI in negative territory with a -0.27% decline today at 39,219.61 points, as investor sentiment remained weak towards the domestic equities market. Nonetheless, the market gained +1.74% m/m thanks to some random upticks in select large cap counters during  the month.  Top Brewer NB (-9.93%) was a major drag today, alongside Fidelitybk (-1.56%) and Oando(+2.85%), while on the flip side were Access(+1.11%), UBA (+0.66%) and low caps Honyflour(+9.74%); FTNCocoa (+9.62%) mostly on local speculative demand.

Turnover remained meagre at N1.97 bln ($4.8 mln). The YTD return on the NGX index edged lower to -2.61%. We expect the market to open with similar trading pattern in the coming month.

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