The sentiment in the equities market last week was largely bearish as it closed negative on four of the five trading days. Nevertheless, the significant gain on Thursday drove the market to a positive close, with the NSEASI inching up by 0.58% WoW. Thus, the Year to date (YtD) return moderated to -8.99%. This week, we expect market performance to be driven by corporate actions; Zenith Bank approved the payment of an interim dividend last week, while management of MTN Group guided about a positive earnings expectation this period. We expect these corporate news to spur some positive sentiment on these counters. Ultimately, we expect bullish sentiment to permeate the equities market this week.
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