With some level of sale pressure observable in the market today, the NSEASI slipped by -0.26% to 35,056.82. Consumer counters NB (-7.05%); Dangsugar (-1.27%) retreated on cross trades, alongside CAP (+6.98%); Cadbury (+4.17%) and Flourmill (-2.17%). The banks were also weaker as Zenith (-1.64%); Guaranty(-2.57%) and FCMB(-3.43%) declined. The extent of the day’s weakness was however largely offset by upticks in UBA (+5.49%); Stanbic (+3.90%) and FBNH (+1.39%).
Market turnover stood at N5.49bln ($14.3m), buoyed by mixed interest related crosses in Guaranty; Zenith; Dangsugar; Stanbic and Access amongst others. The ytd return on the market index narrowed to +30.60%. We expect the market to maintain a similar trading pattern in the coming session.
