Market wrap 26/11/2020

It was a relatively lukewarm session today, as the NSEASI (+0.10%) rose marginally to settle at 34,803.00 points. Though most stock closed flattish,  positive movement in Oil& gas major, Mobil (+9.89%)  as well as Guinness (+7.22%), Intbrew (+9.62%), Cadbury (+9.09%)Guaranty (+2.61%), and Flourmill (+0.36%) accounted for the performance. On the contrary, UBN(-5.17%), Fidelitybk (-5.11%), Dangsugar (-3.15%), UBA (-2.94%), FBNH (-2.68%) and ETI(-1.52%) declined on profit-taking.

Market turnover was N3.53b ($9.20m), driven by mixed interest in Zenithbank, and Guaranty as well as domestic related crosses in Mtnn  . The NSEASI ytd return improved to +29.66%. We expect the market to witness similar sentiments in the coming session.


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