Market wrap 20/04/2020

The Nigerian equities market commenced the week on a flattish note as the broad benchmark index closed down marginally by -0.01%. Weakness in Guinness (-9.37%), PZ (-9.09%), Zenithbank (-5.67%), Access (-4.48%), Guaranty (-4.33%) and Wapco (-1.72%) offset the gains recorded on MTNN (+3.63%), Jberger (+10.00%), Buacement (+8.48%) , NB (+6.65%) and Nestle (+0.83%) at the close of today’s session. Consequently, market breadth closed in the negative territories with 13 advancers and 16 laggards.

Market turnover was N4.21bn ($10.89mln), boosted by mixed interest trades in Nestle and Guaranty. The NSEASI ytd return stood at -14.61%. We expect the market to witness the same sentiment in the next session.

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