April 23, 2021

Market wrap 23/04/2021

Trading activities on the domestic equities market closed on a brighter note as the broad index appreciated by 43bps to settle at 39,301.82 points. This was on account of gains recorded in Stanbic (+8.70%), Dangsugar (+5.29%), ETI (+4.00%), Uacn (+2.82%), NB (+2.20%), Wapco (+1.83%), Zenithbank (+1.36%), Uba (+1.35%) and Fbnh (+0.68%) in the day. On the contrary, Guaranty (-0.32%),Access (-0.66%) and Fcmb (-0.34%) recorded mild decline.

Market turnover was N3.04bln ($7.96mln) though boosted by trades in Guaranty. Year to date performance moderated to -2.41%. We expect the market to maintain a similar trading pattern in the coming session.