Market wrap 17/09/2020

The domestic equities market edged lower today as the All Share Index dipped by 7bps to settle at 25,533.35 points. The benchmark’s performance was on account of weakness recorded in Dangsugar (-5.88%), ETI (-2.47%), FBNH (-1.01%), Oando (-2.13%), FCMB (-0.49%) and Fidelitybk (-0.56%). Though most stock closed flattish, selected consumer goods; Intbrew (+10.00%), Cadbury (+4.23%), Flourmill (+1.54%), Guinness (+0.37%) as well as UBA (+0.84%) and Guaranty (+0.20%) rose to salvage valuable points on the market tracker.

Market turnover was N2.09bn ($5.41mln), buoyed by mixed interest trades in Guaranty, Zenithbank and MTNN. The NSEASI ytd return moderated to -4.88%. We expect the market to witness the same sentiments in the next session.

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