Market wrap 04/09/2020

The NSEASI (+0.37%) ticked higher  today (+0.37%) to close the week on a positive note (+1.17% w/w) at 25,605.64. The gains were widespread, though mainly driven by a cross-induced gain in energy major-Seplat (+3.90%) coupled with increased demand for the banks, as more H1 earnings announcement hit the market from that space. Guaranty(+3.31%); Fidelity(3.33%); Stanbic(1.33%); Zenith (+1.16%) and Access (+0.78%) were the top advancers, though FBNH(-0.99%) and UBA (-0.77%) contracted. Consumers counters Guinness(+3.21%); UACN(+1.61%) and CAP (+1.50%) were also positive. Market breadth was still in the green with about 2 advancers recorded for every one that declined.

Market turnover also improved to N3.79b ($9.8m),  driven by mixed interest related block trades in Zenith($4.2m); Stanbic($1.03m); Guaranty($0.71m) and Seplat ($0.6m). The NSEASI ytd return moderated to -4.61%. We expect the market to witness similar sentiments in the coming week.

Our site uses cookies to enhance your experience. By continuing to browse, you agree to our Privacy Policy