June 7, 2021

Market wrap 07/06/2021

Trading activities for the week began on a quiet note with the broad equities index declining marginally by -0.10% in the day. Weakness in Unilever (-2.10%), Wapco (-1.22%) as well as negative movement in selected banking stocks; Fcmb (-4.55%), UBN (-3.64%), Guaranty (-1.22%), ETI (-0.98%), UBA (-0.70%), Zenithbank (-0.22%) drove the day’s performance. These notwithstanding, Ardova (+2.67%),  Stanbic (+2.00%), Custodian (+0.85%), Fbnh (+0.69%), Jberger (+0.53%) and Vitafoam (+0.45%) advanced in the session.

Turnover remained meagre at N1.5bn ($3.64m), though boosted by trades in zenithbank, Seplat, Fbnh and Guaranty. The NSEASI ytd return dipped to -3.93%. We expect the market to trade with similar sentiments in the next session. in the coming session.