April 15, 2021

Market wrap 15/04/2021

Today’s trading session finished on a negative note as the ASI dipped by -17bps to settle at 38,571.89 points. The index’s performance was due to weakness recorded in PZ (-9.78%), UBN (-7.14%), Unilever (-5.64%), Custodian (-4.17%), Wapco(-3.11%), UBA (-2.16%), Zenithbank (-0.91%) and Guaranty (-0.17%). On the contrary, Guinness (+10.00%),Fcmb (+3.91%), Dangsugar (+1.82%), Cadbury (+1.25%), Ardova (+1.06%), Fbnh (+0.66%) and Uacn (+0.52%) all advanced

Market turnover was N1.78bln ($4.65mln) though boosted by fragmented trades in Guaranty, Access, Fbnh and  Zenithbank. Year to date performance edged lower to -4.14%. We expect the market to maintain a similar trading pattern in the coming session