Market wrap 27/05/2020

Trading activities in the Nigerian equities market for the week started on a brighter note, as the All Share Index rose by 7bps to settle at 25,221.29 point. Today’s performance on the broad index was due to upward movements in some bellwethers in the banking and consumer goods space. Stanbic (+9.98%), Access (+9.70%) FBNH (+9.62%), ETI (+8.04%), and UBA (+5.88%) topped the gainers chart in the banking space while NB (+10.00%), Dangsugar (+9.38%) Cadbury  (+8.84%), and Guinness (+8.17%) led the consumer goods.

Market turnover was impressive  at N5.59bn ($14.31mln), supported by mixed interest trades in Guaranty, Zenithbank, FBH and MTNN. The NSEASI ytd return dipped to -6.04%. We expect the market to witness the same sentiment in the next session.


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