The Nigerian equities market closed on a positive note as the ASI rose by +0.30% to settle at 35,147.62 points. Today’s performance was largely due to gains in Oil & gas major, Seplat (+0.40%) on cross trade as well as mild positive movement in selected consumer goods; Unilever ( +0.39%), Dangsugar(+ 0.25%) and Glaxosmith (+ 0.76%). Also, gains recorded in commercial lenders; Guaranty (+5.42%), Zenithbank (+1.67%), Access (+1.16%), sufficiently offset Fcmb (-3.60%), UBA (-1.20%) and UBN (-0.89%) decline. Though most stocks closed flattish, other notable laggards were Mtnn (-0.13%), Flourmill (-0.90%), PZ (-2.00%), Guinness (-2.91%) and Mansard (-1.25%).
Market turnover was N3.41bln ($8.88m), buoyed offshore related cross trade in Seplat and by mixed interest trades in Guaranty and Access. The NSEASI ytd return improved to +30.94%. We expect the market to maintain a similar trading pattern in the coming session.
