July 23, 2020

Market wrap 22/07/2020

Investor sentiments remained weak in today’s trading session as the NSEASI closed flattish (0.00%) at 24,173.53 points. Although, must stocks closed unchanged, Eterna (+8.89%) staged a recovery while Guaranty (+0.23%), Fidson (+3.42%) and Oando (+0.43%) recorded mild gain in the session. On the flipside mid sized lenders: Sterlnbank (-3.2%), Jaizbank (-1.82%) and Fidelitybk (-1.12%) finished the session underwater.

Market turnover was N3.77bn ($9.69m), though boosted by mixed interest trades in NB,Dangcem and UACN. The NSEASI ytd return stood at -9.94%. We expect the market to witness similar sentiments in the coming session.