Market wrap 23/10/19

The Nigerian equities market recorded its first gain this week as the ASI recovered from early weakness to finish up by 0.12%. Late recovery in Dangcem (+1.60%), coupled with upward movement in UBA (+2.63%), FBNH (+1.89%) supported the broad equity index to close in the green region. Meanwhile weakness in Access (-3.40%), Zenithbank (-1.45%) and Guaranty (-0.76%) dragged the banking index southward while Industrial tracker closed underwater due to loss in Wapco (-2.97%).

Market turnover was lower  at  N2.7bn ($7.5m), boosted by offshore related crosses in Nestle ($1.7 mln) and Guaranty (0.82 mln) .The NSEASI ytd return stood at -16.01%. We expect the market to maintain the same trading pattern in the next session.


Our site uses cookies to enhance your experience. By continuing to browse, you agree to our Privacy Policy