Market wrap 08/05/2020

The Nigerian equities market concluded the last trading session of the week in the negative territory as profit taking disrupted the upward trajectory on the broad index. Consequently, the All Share Index finished lower by 1.27% to settle at 24,045.40 points at the close of today’s session. Weakness in communication giant, MTNN (-6.67%), coupled with losses in Guaranty (-2.44%) and Buacement (-1.24%) contributed the most to the southward movement. Meanwhile, gains recorded in NB (+7.45%) pulled the consumer goods index into the green region. Other notable advancers today were: Zenithbank (+1.32%), Access (0.79%), and Glaxosmith (3.70%).

Market turnover was N2.19bn ($5.62mln), buoyed trades in Guaranty, FBNH, MTNN and Zenithbank. The NSEASI ytd return dipped to -10.42%. We expect the market to witness the same sentiments in the next session.

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