May 11, 2020

Market wrap 11/05/2020

Trading activities in the Nigerian equities market for the week started on a negative note, as the All Share Index dipped by 39bps to settle at 23,950.83 points. Meanwhile, despite the decline in the broad index, market breadth closed in the positive region. However, gains recorded in Unilever (+10.00%), and UACN (+1.47%) proved insufficient to offset points lost in CAP (-9.83%), UBN (-8.57%), Guaranty (-4.33%), Zenithbank (-2.27%) among others.

Market turnover was meagre at N1.77bn ($4.54mln), though buoyed by mixed interest trades in Guaranty and FBNH. The NSEASI ytd return dipped to -10.77%. We expect the market to witness the same sentiments in the next session