April 9, 2021

Market wrap 09/04/2021

The ASI(+0.17%) inched higher to settle at 38,866.39 point in today’s session on account of positive movement in Mtnn (+1.90%), Guaranty (+0.52%), Zenithbank (+0.15%), Fcmb (+6.57%), Intbrew (+2.70%) and Fidelitybk (+0.81%). On the contrary, Guinness (-3.30%), Uacn (-0.40%), Oando (-0.11%), Stanbic (-0.65%) and Dangsugar (-0.05%) all declined in the day.

Market activity remained weak with a turnover of  N1.28bln ($3.36mln) though boosted by fragmented trades in Guaranty, Mtnn, Zenithbank and Access. Year to date performance moderated to -3.49%. We expect the market to maintain a similar trading pattern in the coming session.