Market wrap 06/05/2020

Trading activities in the Nigerian equities market closed on a positive note as the All Share Index appreciated by 1.40% to settle at 24,143.37 points. Today’s performance on the broad market index was underpinned by investors’ improved sentiment toward equity instruments as major sub-sector indices closed in the green region. Notable, the banking sector witnessed gains in Guaranty (+9.29%), Zenithbank (+6.40%), ETI (+4.44%),FBNH(+4.26%), and UBA (+3.28%) while points amassed in NB (+10.00%), Guinness (+8.29%) and Flourmill (+6.33%) boosted the consumer goods indicator. Also Wapco (+4.21%), and Dangcem (+0.56%) closed stronger in the industrial space in  today’s session. Meanwhile, market breadth improved further with about 8 gainers to every loser.

Market turnover was N4.10bn ($10.47mln), buoyed by mixed interest trades in Guaranty and Zenithbank . The NSEASI ytd return moderated to -10.05%. We expect the market to witness the same sentiment in the next session.


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