July 9, 2021

Market wrap 09/07/2021

A dip in telecommunication giant Airtelafric (-9.99%) on tiny volumes sent the All Share Index nosediving  by -1.24% to settle at 37,994.19 points. Though the session was quiet, other notable laggards were Vitafoam (- 4.63%), Access (-0.55%), Zenithbank(-0.20%), Uacn (-0.55%), Nascon (-0.66%), and Mansard (-1.11%). Nevertheless, Dangcem (+0.04%),GTCO (+0.51%), Cadbury (+0.58%), Fbnh (+1.32%) and Pz (+1.72%) finished higher in the session.

Market turnover was N2.71bln ($6.57mln) buoyed by trades in GTCO, Dangcem and Zenithbank. Ytd performance edged lower to -5.65%. We expect the market to maintain a similar trading pattern in the coming session.