June 19, 2020

Market wrap 18/06/2020

Lukewarm activities in the Nigerian equities market as the benchmark index retreated by 0.16% to close at 24,933.41 points. The index’s performance was primarily due to losses printed by bellwethers in the consumer goods and banking space, most notable was; NB (-9.52%), also Access (-0.73%) declined. However, mild gains recorded in MTNN (+0.43%), FBNH (+0.99%) and GUARANTY (+0.43%) proved insufficient to offset the impact of the day’s laggards.

Market turnover was N2.21bn ($5.69mln), though boosted by crosses in Guaranty ($1.38mln), MTNN ($1.43mln) and NB ($0.40mln). The NSEASI ytd return dipped to -7.11%. We expect the market to witness the same sentiment in the next session.