February 13, 2020

Market wrap 13/02/2020

Today’s trading activity in the Nigerian equities market closed on a flattish note as benchmark index pared early losses to -5bps. Prominent laggards in the session were MTNN (-3.33%), UACN (-1.58%), Zenithbank (-0.25%), and Afriprud (-0.43%). Weakness in the laggards eroded gains recorded in Buacement (+1.42%),Guaranty (-6.38%), Flourmill (+2.22%), Access (+0.51%) and  Fbnh (+0.84%), at end of the day.

Market turnover closed at N2.78bn ($7.6 mln), buoyed by domestic interest in MTNN ($1.70 mln), and Flourmill ($1.33 mln). The NSEASI ytd return tapered to +3.81%. We expect the market to maintain this trading pattern in the next session