Market wrap 01/08/2019

The equities market closed the first  session in August  on a positive note with the index closing 0.11%. Gains in MTNN (+1.61%), Nascon (+6.87%) and  recovery on Berger (+9.65) supported the equity broad index to finish in the green region. Other gainers includes UBN (+0.73%) CCNN (+0.41%), Flourmill (+1.33%) and FCMB (+1.23%) . Market breath closed in the negative region with the likes of FO (-8.14%), Intbrew (-4.00%), Access (-2.29%), Guaranty (-1.76%) and FBNH (-1.75%) closing underwater.

Turnover contracted to N1.8bn ($4.9m) on low investor appetite, albeit boosted by offshore crosses in Dangcem ($1.1m); Zenith ($0.3m) and by locals in MTNN ($0.7m). Ytd loss of -11.71%. We expect the market to maintain the same trading pattern in the coming session in the absence of fresh incentives.

Our site uses cookies to enhance your experience. By continuing to browse, you agree to our Privacy Policy