The Nigerian equities market ASI depreciated by -1.83% to settle at 40,396.14 points. The banking index and industrial goods index retreated by -2.98% and -1.98% respectively due to weakness in Fbnh (-8.28%), UBA (-5.08%), Zenithbank (-4.28%), Guaranty (-2.84%) Buacement (-5.88%) and Wapco (-2.40%). Other notable laggards includes; MTNN (-2.77%), Uacn (-4.70%), Dangsugar(-1.08%), Guinness(-3.16%) and Jberger (-1.40%). On the flipside, Oil & gas major Seplat (+1.91%), as well as Bocgas (+9.72%), Eterna (+6.48) and Afriprud (+5.57%) all advanced in the session.
Market turnover improved to N5.12bn ($13.08m) boosted by mixed interest trades in Zenith, NB, MTNN and Guaranty. The NSEASI ytd return moderated to +0.35%. We expect the market to maintain a similar trading pattern in the coming session.