Market wrap 03/06/2020

The Nigerian equities market remained unbeaten, as the All Share Index rose marginally by 10bps to settle at 25,407.96 points. Today’s performance on the broad index was due to gains recorded by communication giant MTNN (+1.29%) as well as positive movements recorded in Stanbic (+2.15%), ETI (+7.77%) and FBNH (+0.92%). Despite the unbeaten stance, market breadth closed in the negative region with PZ (-9.43%), UACN (-8.33%), Guinness (-5.00%), Dangcem (-0.35%), Access (-3.52%) and UBA (- 1.47%) all finished the session lower.

Market turnover was impressive at N7.04bn ($18.16 mln), though buoyed by trades in Dangcem, Guaranty, Zenithbank, and MTNN. The NSEASI ytd return moderated to -5.32%. We expect the market to witness the similar sentiments in the next session

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