The NSEASI sank further by 1.96% due to exacerbating sell pressure in the equities space. Today’s performance was largely due to sell-offs among the industrial goods and banking stocks; specifically, cement majors: Dangcem (-7.39%) and Wapco (-2.62%). ETI (-8.06%),UBA (-6.90%), Access (-4.71%), Zenithbank (-3.10%), Fbnh (-2.04%), Guaranty (-1.53%) all declined among the lenders. Other notable laggards were CAP (-10.00%), Presco (-5.93%), Flourmill (-5.65%), Unilever (-4.90%), Uacn (-4.88%) and Dangsugar (-2.30%). Nevertheless, Guinness (+4.83%), PZ (+2.86%), Intbrew (+1.65%), Mansard (+1.57%) and Fcmb (+0.31%) advanced.
Market turnover was N5.48bln ($14.30mln) buoyed by trades in Guaranty, Zenithbank and Mtnn. Year to date performance moderated to +1.06%. We expect the market to maintain a similar trading pattern in the coming session.
