June 3, 2021

Market wrap 03/06/2021

Trading activities on the Nigerian equities market closed on a brighter note as the ASI appreciated marginally by +0.18% to settle at 38,551.06 points. Positive movement recorded in Mtnn (+1.48%),Flourmill (+1.06%),Berger (+9.84%), Afriprud (+6.90%), NB (-0.85%), Wapco (+0.49%) and Zenithbank (+0.22%) underpinned the Index’s performance. Though most stock finished flattish, UBN (-6.72%), Stanbic (-1.96%), Glaxosmith (-0.83%), UBA (-0.69%) and Fbnh (-0.69%) all declined.

Market turnover was N1.87bln ($4.53mln), boosted by Zenithbank. The YTD return on the NGX index moderated to -4.27%. We expect the market to maintain a similar trading pattern in the coming session.