March 30, 2021

Market wrap 30/03/2021

The NSEASI (-0.57%) retreated in today’s session to settle at 39,267.11 point, on account of negative movement in Dangcem (-4.02%), ETI (-4.72%), Fidelitybk (-2.92%), Jberger (-2.68%), and Intbrew (-0.87%) among others. Nevertheless market breadth closed in the positive territory with 22 gainers and 13 laggards. Gains in Presco (+4.35%),UBA (+4.35%), Uacn (+3.45%), Zenithbank (+2.49%), Cadbury (+1.85%), Guinness (+1.44%), Wapco (+0.91%), Dangsugar (+0.61%), Stanbic (+0.49%) and Guaranty (+0.30%) salvaged some valuable points.

Market turnover was N3.27bln ($8.57mln) buoyed by trade in Guaranty and Zenithbank. Year to date performance edged lower to -2.49%. We expect the market to maintain a similar trading pattern in the coming session.