Market wrap 05/11/2020

The recent lull in the Nigeria equities market was sustained in today’s session as the NSEASI (-0.01%) dipped slightly to finish at 30,738.92 points. Though most stock closed unchanged, notable laggards were Buacement (-0.11%), Flourmill (-2.82%), ETI (-0.97%), UBN (-3.64%) and Intbrew (-5.80%). Nevertheless, Unilever (+2.92%), Fbnh (+2.38%), UBA (+1.32%), Nascon (+0.72%), Guaranty (+0.62%), Wapco (+0.54%), Dangsugar (+0.32%) and Zenithbank (+0.23%) all advanced.

Market turnover was N6.62b ($17.25m), buoyed by crosses in Buacement, NB and fragmented trades in Zenithbank . The NSEASI ytd return improved to +14.52%. We expect the market to witness similar sentiments in the coming session.

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