Market wrap 31/12/2021

Rally in Large cap stocks; Nestle (+10.00%) and MTNN (+ 8.24%) supported the domestic bourse today as the market index amassed a +2.16% uptick on the day to close at 42,716.44 points. End of year activities also buoyed Unilever (+8.21%), Dangsugar (+5.45%),NB (+4.17%), ETI (+4.19%), Intbrew (+5.32%),Access  (+2.20%), Wapco (+1.05%), UBA (+0.63%) and Zenithbank (+0.60%) to closed in the on a brighter note. On the flip side, UBN(-2.48%),UACN(-1.04%),FBNH (-0.87%),Afriprud (-0.78%) and NGXGROUP(-0.50%) which retreated amid weak demand.

In all, activities levels were impressive as market turnover closed at N9.8bln ($23.98mln) boosted by offshore related block trades in Nestle as well as mixed interest in Zenithbank, and MTNN . The NSEASI’s appreciated by +6.07% for the year 2021. Barring any major surprises, we expect the market activities to begin on a cautious note in the early part of 2022.

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