Market wrap 22/04/2020

Trading activities in the Nigerian equities market ended on a positive note today, as the NSEASI pared losses recorded in the preceding session by +66bps  to close at 22,780.30 points. The performance on the broad market indicator was largely on account of recovery in the banking and Industrial sectors. Notable, Zenithbank (+5.36%), UBN (+3.17%),UBA (+2.63%) Access (+2.46%) and Guaranty (+1.36%)  recorded a comeback in the among the banks while Wapco, (+9.66%) Buacement (+0.87%) boosted the return of the industrial tracker.

Meanwhile market turnover remained meagre at N1.85bn ($4.75mln), though buoyed by mixed trades in Guaranty, Zenith and domestic interest in Wapco.The NSEASI ytd return moderated to -15.13%. We expect the market to witness the same sentiment in the next session.

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