December 2, 2019

Market Wrap 29/11/2019

Trading activity on the Nigerian equities market closed in the positive territory as the benchmark index appreciated by 0.66% in the last session of the week. The indicator was buoyed by gains recorded by some names in the Consumer goods and banking space . Specifically, gains in Nestle (+3.85%), Uacn (+6.67%) and NB (+0.29%) lifted the consumer goods index while Guaranty (+1.33%), Access (+1.09%) and Fidelity (+2.5%) closed up in the banks. Gains in CCNN (+5.26) was sufficient to offset Dangcem (-0.14%) in the Industrial goods while MTNN (+1.69%) witnessed some recovery in the session.

 

Market turnover moderated to N3.6bn ($10 mln), buoyed by offshore interest in NB($2.68mln), and mixed interest in Dangcem ($ 0.77mln), Uacn ($0.46mln). The NSEASI ytd return moderated further to -14.09%. We expect the market to maintain this trading pattern in the next session.