Market wrap 02/06/2020

Trading activities in the domestic equities market closed on a brighter note as the NSE All-Share Index  appreciated by 25bps to settle at 25,383.43 points.  Gains recorded in market heavy weight Dangcem (+1.44%) and MTNN (+0.43%) contributed the most to the upward movement in the broad market index. Notable advancers in the banking space were; Guaranty (+2.24%),Zenithbank (+0.29%), UBA (+0.74%), and ETI (+0.98%).

Market turnover was N6.06bn ($15.56mln), buoyed by offshore interest trades in NB, and mixed interest in Dangcem, Guaranty and Zenithbank. The NSEASI ytd return moderated to -5.43%. We expect the market to witness the same sentiment in the next session.

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