Market wrap 12/12/19

Today’s trading activity ended on a positive note as the NSEASI appreciated by 51bps to sustain the recent rebound in the equities market. The positive movement in the market indicator was largely due to gains in the Consumer goods and banking space. The gainers in the consumers goods space include: Presco (+9.51%), Cadbury (+9.39%), Uacn (+6.02%), Dangsugar (+5.96%), NB (+2.83%) and Guinness (+1.72%) while FBNH (+4.84%), Guaranty (+3.57%), Fidelity (+2.50%) and ETI (+2.34%) advanced in the banking space. Although market breadth closed on a positive note, UBN(- 4.55%),Wapco (- 0.74%), Unilever (-0.54%) and Access (0.54%) closed downwards in the session.

Market turnover closed at N3.0bn ($8.30 mln), buoyed by mixed interest block trades in Dangcem ($4.6mln), and offshore related cross in Guinness ($0.76mln). The NSEASI ytd return moderated  to -15.46%. We expect the market to maintain this trading pattern in the next session


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