June 4, 2021

Market wrap 04/06/2021

The NGXASI (+0.46%) advanced in today’s session to settle at 38,762.10 point, amid tepid trading activities . The performance was largely on account of positive movement in Dangcem (+2.09%), coupled with mild gains recorded in Mtnn (+0.06%), NB (0.08%), Guaranty (+0.88%), ETI (+2.00%) and Fbnh (+1.40%). Although most stock closed on a flattish, market breadth finished in the positive region with about 2 gainer to every laggard.

Market turnover was N1.59bln ($3.84mln), boosted by trades in NB, Dangcem and Seplat. The YTD return on the NGX index moderated to -3.84%. We expect the market to maintain a similar trading pattern in the coming session.