The ASI (-0.35%) depreciated marginally in the first trading session of the week to settle at 41,564.31 points. Weakness in Consumer goods stock PZ (-9.73%), Flourmill (-1.43%), Unilever (-2.05%), Dangsugar (-0.25%) as well as downward movement in Guaranty (-8.75%), accounted for the index’s performance. Nevertheless ,market breadth closed in the positive territory as Guinness(+4.47%), UBA (+4.14%),Fidelitybk (+4.00%), Honyflour (+2.31%), Fbnh (+1.38%), Wapco (+0.75%), and Access (+0.58%) among others salvaged some valuable points in the day.
Market turnover was N2.64bln ($8.82mln) buoyed by trades in UBN, Fbnh and Zenithbank. Year to date performance moderated to +3.21%. We expect the market to maintain a similar trading pattern in the coming session.
