Market Wrap 05/08/2019

The Nigerian equities market commenced the week on a positive note as the ASI appreciated by 15bps despite lukewarm activity.  Gains in telecommunication giant MTNN (+0.98%), coupled with  Dangflour (+10.00%) and CCNN (+5.26%) supported the broad index the most  to close in the green region. Meanwhile the banking index closed underwater on account of ETI (-10.00%) FBNH (-3.57%) and FCMB (-3.58%) losses.

Turnover trimmed to N1.4bn ($3.9m) with trades on  Sterling Bank ($1.17m) involving local interest as the major block on the day. Ytd loss on the index moderated to -11.94%. We expect the market to maintain the same trading pattern in the next session.

Our site uses cookies to enhance your experience. By continuing to browse, you agree to our Privacy Policy