Trading activities on the Nigerian equities market commenced on a brighter note as the ASI rose by +0.80% to close at 39,110.17 points. Today’s performance was on account of gains in Buacement (+6.67%), as well as positive movement in selected banks; Access (+ 4.07%), Zenithbank (+2.04%), Sterlnbank (+3.65%), UBA (+0.59%) and Fidelitybk (+0.39%) . Though most stocks closed flattish, CAP (-2.44%), Flourmill (-1.61%), Guinness (-1.03%), ETI (-0.76%), Fcmb (-0.66%), and wemabank (- 2.86%) all declined.
Market turnover was decent N4.38bn ($11.42m) dominated by trades in Dangcem, Zenithbank, and Access. The NSEASI ytd return improved to +45.70%. We expect the market to maintain a similar trading pattern in the coming session.
