Trading activities resumed on a relatively quiet note on the NSE today, with the index retreating marginally by -0.06% on the day. Mixed performance in the banks, where further bargain hunting in Access(+1.54%), FCMB(+1.49%) and Guaranty(+0.82%) were offset by weaknesses in ETI(-4.71%); UBA(-1.53%) and Zenith(-0.59%), mainly drove the day’s performance. Other key movers were non-financial counters Unilever(+7.14%) ; Guinness(+6.38%), CAP(+2.94%) and WAPCO(+2.13%) which rallied on reduced sale pressure and slightly muted Buacem(-1.39%)’s decline.
Turnover was low at N1.4bn ($3.7m), boosted by a block trade in Unilever N0.20bn($0.50m) involving mixed interests. The NSEASI ytd return further moderated to -6.76%. We expect the market to trade with similar sentiments in the next session.
