May 18, 2020

Market wrap 18/05/2020

Trading activities in the Nigerian equities market for this week started on a positive note, as the All Share Index rose by 58bps to settle at 24,010.19 points. Today’s performance on the broad index was due to gains recorded in MTNN (+1.37%), Guaranty (+1.11%) Wapco (+6.07%), Intbrew (+4.17%), Access (+2.40%), Buacement (+0.63%) and Zenithbank (+0.32%). However, notable laggards in the session were: Guinness (+2.86%),ETI (-2.00%), FBNH (-1.01%) and Fidelitybk (-3.33%).

Market turnover was meagre at N2.93bn ($7.55mln) though buoyed by mixed interest trades in Zenithbank, Access and Guaranty. The NSEASI ytd return dipped to -10.55%. We expect the market to witness the same sentiments in the next session