Market wrap 22/10/2020

Today’s trading activities on the Nigerian equities market closed on a brighter note as the NSEASI (+0.40%) recovered some points after previous sessions’ dip. Though most stocks closed flattish, the respite witnessed by the broad index was due to upward movement in MTNN (+1.45%) as well as gains in UBA (+3.03%), Fcmb (+7.96%), Stanbic (+2.33%), Wapco (+2.02%), Uacn (+8.33%), Dangsugar (+2.22%). On the flipside, Glaxosmith (-3.57%), Intbrew (-2.95%), Cap (-1.07%), Guinness (-0.31%) together with some banking names; Fidelitybk (-2.50%), Fbnh (-0.82%), Zenithbank (-0.72%), and Access (-0.65%) finished the session in the negative region.

Market turnover was N4.49bn ($12.28mln), boosted by mixed interest trades in Zenithbank, Guaranty and Access. The NSEASI ytd return improved to +6.39%. We expect the market to witness the same sentiment in the next session.


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