Market wrap 01/06/2020

Trading activities in the Nigerian equities market for the month started on a positive note, as the All Share Index rose by 21bps to settle at 25,321.29 points. Today’s performance on the broad index was due to gains recorded on bellwethers Dangsugar (+9.69%), Guaranty (+2.29%), NB (+1.62%), FBNH (+1.87%), Wapco (+0.87%) and Buacement (+0.71%). However, notable laggards in the session were: Stanbic (-9.22%),Flourmill (-4.76%), and Honyflour (- 4.76%).

Market turnover was meager at N2.65bn ($6.78 mln), though buoyed by mixed interest trades in Guaranty, Zenithbank, and MTNN. The NSEASI ytd return dipped to -5.67%. We expect the market to trade sideways in the next session.

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