Market wrap 20/10/2020

Trading activities on the Nigeria equities market finished on a brighter note as the NSEASI rose marginally by +2bps to settle at 28,665.82 points in the day. Gains in selected consumer goods name; Intbrew (+9.90%), NB (+4.67%), Flourmill (+4.55%) and UACN (+$.48%) coupled with positive movement in Zenithbank (+0.24%), Jberger (+2.66%)  and ETI (+4.35%) supported the broad index’s performance. Nevertheless, weakness Mobil (-4.60%), Wapco (-2.16%), Guinness (-3.68%) as well as losses in Guaranty (-1.30%),along with its peers Access (-2.52%), UBA (-2.82%), and UBN (-3.03%) reduced the market’s return for the day.

Market turnover improved to  N2.93bn ($ 7.63mln), buoyed by mixed interest trades in Zenithbank, UBA and Guaranty. The NSEASI ytd return appreciated to +6.79%. We expect the market to witness the same sentiment in the next session.

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