Market Wrap 26/08/2020

Today’s trading activities on the Nigeria equities market finished on a brighter note as the NSEASI remained unbeaten, appreciating by 15bps to settle at 25,330.10 pts. Gains in selected consumer goods: UACN (+6.48%), PZ (+5.00%), Guinness (+1.31%), Flourmill (0+.53%) largely accounted for the performance. Investors’ sentiment in the banking space were mixed as gains in Stanbic (+4.49%),FBNH (+1.00%), FCMB (+0.98%) and Guaranty (+0.20%) were pared by loss UBA (-1.53%).

 Market turnover however remained low at N1.3bn ($3.50mln), though buoyed by mixed interest trades in Nestle, Guaranty and Zenithbank. The NSEASI ytd return moderated to -5.63%. We expect the market to witness the same sentiment in the next session.

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