A quiet start in the domestic equities market as the broad index dipped by -0.01% to settle at 55,788.37points. The index’s performance was on account of weakness in NGXgroup (-9.72%), Wapco (-1.52%) as well as negative sentiments among the banks; Zenithbank (-3.10%), FBNH (-2.27%), GTCO (-1.89%), UBA (-1.21%), and Accesscorp (-1.09%). Though market breadth closed in the negative region, gains recorded in Buafoods (+4.21%), Fcmb (+0.46%) and Ucap (+0.34%) pared the losses recorded in the day .
Market turnover was meagre at N2.55bln ( $5.52mln) buoyed by trades in NGXgroup and Zenithbank. The YTD return on the NGX index tapered to +8.85%. We expect the same trading pattern in the coming session.