April 8, 2021

Market wrap 08/04/2021

The Nigerian equities market closed on a brighter note as the ASI (+0.26%) rose marginally amid tepid trading activities. Mild gains in some banks; Zenithbank (+3.81%), Guaranty (+2.68%), Access (+1.90%) and UBA (+0.72%) as well as Okomuoil (+3.33%), Oando (+5.16%) accounted for the day’s performance. Most stock finished flattish, while Intbrew (-2.63%), Ucap (-1.82%), Fidelitybk (-1.60%), and Uacn (-0.51%) declined.

Market turnover was meagre at N1.58bln ($4.13mln) though boosted by trades in Guaranty and Zenithbank. Year to date performance moderated to -3.46%. We expect the market to maintain a similar trading pattern in the coming session.