Market wrap 15/05/2020

Today’s session ended on a negative note as uninspiring performance in heavy weighted Dangcem (-1.71%) and MTNN (-0.45%) dragged the All Share Index (-0.09%) southward to settle at 23,871.33 points. Other notable laggards were Guinness (-1.69%), Wapco (-0.93%), Access (-0.79%) and FCMB (-4.44%). Point lost in the laggards sufficiently offset gains recorded in Stanbic (+9.91%), Presco (+9.88%), Glaxosmith (+7.63%), UBA (+2.46%) and Guaranty (+2.27%) in the session.

Market turnover was N2.45bn ($6.25mln), buoyed by mixed interest trades in Guaranty and Zenithbank with domestic interest in Dangcem. The NSEASI ytd return dipped to -11.07%. We expect the market to witness the same sentiment in the next session.

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