Market Wrap 24/08/2020

Trading activities on the Nigerian equities market for the week, started on a positive note as the index appreciated marginally by +0.03% on the day. Sustained upward trend in selected consumer goods; Unilever (+7.53+), Intbrew (+4.17%), PZ (+3.90%) and Guinness (+1.32%) supported the day’s performance though cross trades dragged Presco (-3.90%) lower. Most tickers in the banking space closed flattish, as mild gains recorded by Guaranty (+0.40%) and Zenithbank (+0.30%) were eroded by decline in UBA (-1.52%) and Fidelitybk (-1.67%).


Turnover was N2.36bn ($6.09m), boosted by mixed interest trades in Zenithbank, Presco and Guaranty. The NSEASI ytd return moderated to -6.01%. We expect the market to trade with similar sentiments in the next session.

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