Market wrap 17/08/2020

Trading activities for the week commenced on a relatively quiet note in the Nigerian equities market, with the index declining marginally by -0.22%. Weakness in cement manufacturer Dangcem (-0.74%) coupled with loses in some banks: Access (-0.78%), Guaranty (-0.20%), ETI (-1.23%), Fidelitybk (-0.56%) mainly drove the day’s performance. These notwithstanding, telecommunication major MTNN (+1.99%),  as well as some consumer goods ticker: Unilever (+10.00%), Cadbury (+4.70%) and Dangsugar (+3.36%) advanced in the session.

 Turnover was low at N1.8bn ($4.80m), boosted by offshore fragmented trades in Guaranty and domestic related cross in Dangcem. The NSEASI ytd return dipped to -6.33%. We expect the market to trade with similar sentiments in the next session.

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