The Nigerian equities market opened the week on a bearish note as ASI fell by -0.66% to close at 70,946.83 in the day. The downturn was impacted by losses recorded in selected medium and large capitalised stocks: Buacement (-10.00%),Wapco (-0.17%), Afriprud (-3.82%), Fidson (-3.53%), Maybaker (-3.00%), Oando (-2.12%), NGXgroup (-0.68%), Dangsugar (-0.43%), Zenithbank (-0.43%), and UBA (-0.23%). Nevertheless, market breadth closed in the positive region FBNH (+9.93%), NNFM (+7.50%), Cadbury (+4.93%), Intbrew (+4.17%), UCAP (+2.04%), Accesscorp (+0.83%), Stanbic (+0.73%), Custodian (+0.65%) and GTCO (+0.26%) salvaged some valuable points in the day.
Turnover was N7.1bln ( $8.99mln) due to block trade in Airtelafri and GTCO. We expect the same trading pattern in the coming session.
