May 12, 2020

Market wrap 12/05/2020

Today’s session in the domestic equities market closed on a negative note as the NSEASI slipped by 1.06% to 23,695.90 points due to weakness in heavy weight counters. Specifically, points lost in Dangcem (-4.33%), MTNN  (-0.36%) and Buacement (-0.94%) contributed the most to the southward movement of the broad index. Also, UBA (-1.61%), Guinness (-1.11%) and Access (-0.78%) finished the session in the red region.

Market turnover  closed at N1.6bn ($4.28mln) though buoyed by mixed interests trades in Dangcem, Guaranty and MTNN. The NSEASI ytd return dipped to -11.72%. We expect the market to witness the same sentiments in the next session.