Market wrap 09/06/2020

Trading activities in the domestic equities market closed on a brighter note as the NSE All-Share Index  appreciated by 34bps to settle at 25,335.15 points.  Though the session was quiet, gains recorded in Buacement (+4.10%), Bocgas (+10.00%) Dangsugar (+2.75%) and UBA (+0.74%)  contributed the most to the upward movement in the broad market index. On the flipside the session recorded weakness in some counters, notable were: Mobil (-9.96%),FBNH(-2.73%),Cadbury (-1.96%), Access (-0.74%),Flourmill (-0.24%) and Guaranty (-0.21%).

Market turnover was meager at N1.21bn ($2.88mln), though buoyed by mixed interest trades in Guaranty, Zenithbank and MTNN. The NSEASI ytd return moderated to -5.61%. We expect the market to witness the same sentiment in the next session

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