Trading activities in the Nigeria equities market finished on a positive note today as the NSEASI (+0.61%) consolidated on recent gains to close the session in the green region. Sustained recovery in the banking space largely underpinned the upward trend in the broad market indicator; specifically, FBNH (+9.71%),ETI (+9.26%), Access (+6.51%) UBA (+0.73%) and Guaranty (+0.41%) finished stronger. Other notable gainers were NB (+4.44%), Buacement (+0.73%) and UACN (+8.64%).
Market turnover trimmed down to N2.8bn ($7.6 mln), though boosted by fragmented trades in Zenithbank, Guaranty and FBNH. The NSEASI’s negative ytd return moderated further to -1.59%. We expect the market to witness the same sentiment in the next session.