Market wrap 22/09/2020

Trading activities on the Nigeria equities market finished on a brighter note as the NSEASI appreciated by +31bps to settle at 25,654.90 points in the day. Though sentiment was broadly feeble, gains in telecommunication giants MTNN (+2.41%), together with upward trend in FBNH (+2.04%),FCMB (+0.98%), and Dangsugar (+0.83%) largely accounted for the performance. Market breadth remained weak as Cement giant Dangcem (-0.22%),UBN (-6.54%), Intbrew (-2.94%), Uacn (-1.56%), Presco (-0.80%) and Access (-0.78%) pared the day’s return.

 Market turnover improved to  N4.39bn ($ 11.36mln), buoyed by mixed interest trades in Zenithbank and Presco, as well as trades in MTNN. The NSEASI ytd return moderated to -4.42%. We expect the market to witness the same sentiment in the next session.

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