Market wrap 09/07/2020

Investor sentiment was largely weak in today’s trading session as activities remained light with the NSEASI flattish (-0.01%) to settle at 24,276.56 points. Weakness in Conoil (-10.00%) as well as in Intbrew (-8.86%), Custodian (-2.00%), FBNH(-0.94%) and Access (-0.74%) among others underpinned the southward movement in the equities index. On the flipside Buacement (+0.12%), Guaranty (+1.11%), ETI (+3.26%) and Zenithbank (+0.60%) advanced in the session.

Market turnover was N2.4bn ($6.3m),  though boosted by trades in Guaranty and Zenithbank. The NSEASI ytd return dipped to -9.56%. We expect the market to witness similar sentiments in the coming session.

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