Today’s trading activities on the Nigerian equities market finished on a negative note as the ASI dipped by -1.77% to settle at 41,685.22. Sell pressure in industrial giant Dangcem (-10.00%) largely accounted for the broad index performance. Also, downward movement in UACN (-10.00%), Cadbury (-2.70%), NGXGROUP (-2.67%), UBA (-0.63%), UCAP (-0.51%) and Dangsugar (-0.31%) contributed to the southward movement in the index. Nevertheless, market breadth closed in the positive region as GTCO (+4.94%), ETI (+2.35%), Zenithbank (+2.29%), Access (+2.22%), Wapco (+2.09%), Fbnh (+1.75%),Vitafoam (+0.25%) and NB(+0.11%) all advanced.
Turnover improved to N5.17b ($12.58m) though boosted by domestic related block trades in Fbnh . The YTD return on the NGX index dipped to +3.51%. We expect the market to maintain a similarly trading pattern in the coming session.
