Today’s trading activities on the Nigerian equities market closed on a negative note as the ASI retreated by -87bps to settle at 39,456.64 points. Sell off among selected banking stocks; Stanbic(-10.00%), Guaranty (-3.65%), Zenithbank (- 3.18%), Fbnh (-1.35%),Fidelitybk (-0.44%), as well as negative movement in Unilever (-8.21%), Intbrew (-7.02%), Jberger (-2.33%) and PZ (-3.77%) contributed to the day’s performance. On the contrary, positive movement in Mtnn (+1.07%), Guinness (+5.90%), Wapco (+5.24%), Access (+3.36%), Dangsugar (+1.18%), and ETI (+0.97%) salgaved some valuable points in the day.
Market turnover was N3.50bln ($9.12mln) dominated by trades in Zenithbank, Fbnh Guaranty and Access. Year to date performance edged lower to -2.02%. We expect the market to maintain a similar trading pattern in the coming session.
