Trading activities in the domestic equities market closed on a flattish note as the ASI retreated marginally by -4bps in the day. Weakness recorded in Ardova (- 8.65%), Sterlnbank (-1.56%) , UCAP (-1.53%) ETI (-0.85%), Fbnh (-0.71%) and UBA (-0.61%) accounted for the performance on the broad index. Despite the tepid activity in the session, Zenithbank (+0.21%), Fcmb (+2.67%), Stanbic (+ 0.11%) and Oando (+0.68%) advance.
Market turnover was N3.42b ($8.91m), driven by trades in Guaranty, Zenithbank and Dangcem. The NSEASI ytd return moderated to +30.48%. We expect the market to maintain a similar trading pattern in the coming session.
