Market wrap 12/08/2020

Trading activities in the Nigerian equities market closed on a brighter note as the NSE All-Share Index  appreciated by +1.04% to settle at 25,141.48 points. Gains in oil and gas major Seplat (+10.00%) and Total (+1.14%) on early cross trades contributed to the upward movement in the broad market index. Also, telco giant Airtelfri (+ 9.20%), as well as some consumer goods players :Cadbury (+9.98%), Presco (+7.29%) and Guinness (+6.21%) finished the session in the green territory. While most stock remained flattish, Buacement (-0.64%), Access (-2.29%), Zenithbank (-0.59%), Fbnh (-0.98%) and ETI (-1.20%) declined in the session.

Market turnover was N3.83bn ($10.00mln), buoyed by mixed interest trades in Guaranty. The NSEASI ytd return moderated to -6.34%. We expect the market to witness the same sentiment in the next session

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