March 29, 2021

Market wrap 29/03/2021

The NSEASI(+0.71%) rose marginally in today’s session on account gains recorded in telecommunication giant Mtnn (+3.13%) and cement manufacturer Wapco (+2.56%). Also, positive movement ETI (+6.00%), Guaranty (+4.28%), Guinness (+3.83%),Custodian (+10.00%), Mansard (+2.04%), UBA (+1.47%), Intbrew (+0.88%) , Dangsugar (+0.61%) and Zenithbank (+0.23%) contributed to the day’s performance. Though most stock finished flattish, Stanbic (-0.96%) Dangcem (-0.44%), Access (-0.60%), Fbnh (-0.68%), Oando (-6.06%)and Unilever (-0.73%) were prominent among the laggards.

Market turnover was impressive at N10.65bln ($27.99mln) though boosted by local book -over of N5.88bln ($ 15.48mln) in Guaranty as well was block trade in Dangcem. Year to date performance moderated to -1.93%. We expect the market to maintain a similar trading pattern in the coming session.