Market wrap 06/11/2020

Trading activities for the week concluded on a positive note as the All Share Index rose by +0.9% to settle at 31,016.17 points. Positive response to Dangcem (+3.25%) Q3 earnings announcement and  gains recorded in Wapco (+4.84%) accounted for the performance in the industrial sector.  Also, commercial lender ETI (+9.80%), alongside its peers Fbnh (+6.20%), UBA (+5.84%), Guaranty (+3.72%), Access (+2.50%) and Zenithbank (+1.83%) as well as selected consumer goods: Uacn (+6.00%), Guinness (+5.74%), and Presco (+1.67%) advanced. Nevertheless, Buacement (-5.39%), Flourmill (-1.45%), Oando (-2.17%) and Custodian (-0.89%) declined..

Market turnover was impressive at  N5.15bn ($13.36mln), buoyed by offshore related blocked trades in Stanbic, as well as mixed interest trades in Zenithbank and Fbnh. The NSEASI ytd return improved to +15.55%. We expect the market to witness the same sentiments in the next session, though not ruling out intermittent profit taking.


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