A equities market got a breather today as the NSEASI rose marginally by +9bps in the day. Recovery in Guinness (+9.96%), Mtnn (+0.63%) as well as positive movement in Fbnh (+2.03%), Uacn (+0.53%), and Zenithbank (+0.46%) largely contributed to the day’s performance. However market breadth closed in the negative region with about 3 laggards to every advancer. Notable decliners were Nnfm (-10.00%), Fcmb (-2.77%), Fidelitybk (-0.80%), Dangsugar (-0.60%) and Guaranty (-0.52%).
Market turnover remained meagre at N2.27bln ($5.95mln) though trades in Zenithbank, UACN and Guaranty dominated. Year to date performance moderated to -4.06%. We expect the market to maintain a similar trading pattern in the coming session.
