AIRTELAFRI- Dark Knight of the Nigerian Bourse, swoops in and saves the day!   


26th June, 2020


The Nigerian equities market ended the last trading session of the week with a positive performance, up
83bps to close at 24,828.96 points. The index halted its six consecutive sessions of capital depreciation, thanks to gains in AIRTELAFRI (+997bps), NESTLE (+178bps) and NB (+86bps) which neutralized the impact of the decline in the most capitalized stock DANGCEM (-154bps). However, activity level for the day closed mixed as total volume traded dropped marginally by 2.37% while trades in GUARANTY, NESTLE and DANGCEM lifted market turnover by 32.55%. Trading sessions in the week were however filled with negative performances, as all sectors closed the week south led by the Oil & Gas sector (-4.84%), while the ASI advanced marginally by 0.01% WoW (thanks to the 83bps rise today which erased previous losses).                  

           

What will shape the market tomorrow? 


The domestic market remained pressured as the fear of the second wave of the Coronavirus took a toll on investors' confidence (evidenced by four of the five trading sessions of the week closing south). We expect the market to start the coming week on a positive note, amidst portfolio re-balancing for Q2 by portfolio/fund managers.  


Reporting for EasyKobo on Friday ,26 June 2020 in Lagos, Nigeria


Source: Vetiva Capital Management Limited          

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