Sustained positive sentiment toward risky asset supported the NSEASI to consolidate on gains recorded last week as the broad benchmark index appreciated by 2.32% to close at 21,879.95 points. Today’s performance was underpinned by gains recorded in market heavy weight Dangcem (+3.42%) and MTNN (+3.16%) coupled with NB (+9.91%), Stanbic (+9.62%),Guaranty (+8.49%), Access (+4.51%) and Zenithbank (+3.57%) among other. Though market breadth closed in the positive region, notable among the laggards were Buacement (-1.30%), Wapco (-1.98%) and Jberger (-1.32%).
Market turnover was N2.46bn ($6.40mln), boosted by mixed interest trades in Guaranty, and Zenithbank. The NSEASI ytd return moderated to -18.49%. We expect the market to witness the same sentiment in the next session.