Trading activities on the Nigerian equites market closed on a positive note with the ASI appreciating by 0.51% in the day. Notable, market advanced on tiny volumes as demand outweigh supply in major counters. Key movers were Oil & gas major Seplat (+7.14%), Total (+9.24%), as well as Wapco (+1.43%), Flourmill (+1.19%), and Berger (+7.07%). Also bargain hurting supported UBA (+5.37%), Access (+5.14%), ETI (+4.00%), Zenithbank (+2.90%), Fbnh (+1.35%), UBN (+0.90%) and Fidelitybk (+0.43%) in the session.
Market turnover was N2.41bln ($5.90mln), boosted by trades in Seplat, Zenithbank and Fbnh. The YTD return on the NGX index moderated to -4.60%. We expect the market to maintain a similar trading pattern in the coming session.
