Market wrap 08/06/2020

Trading activities in the Nigerian equities market for the week started on a positive note, as the All Share Index rose by 92bps to settle at 25,250.20 points. Today’s performance was due to points amassed in MTNN (+1.72%), Buacement (+3.75%), NB (+1.19%), FBNH (+1.85%), Zenithbank (+0.90%) and Guaranty (+0.84%). Although market breadth closed in the green territory, notable laggards were: Dangsugar (-2.68%) on profit taking as well as Guinness (-1.64%).

Market turnover was N2.16bn ($5.45mln), supported by mixed interest trades in Guaranty, Zenithbank, FBNH and NB. The NSEASI ytd return moderated to -5.93%. We expect the market to witness the same sentiment in the next session.

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