Today’s trading activities on the Nigerian equities market closed on a positive note as the ASI appreciated by 28bps to settle at 39,494.70 points. Positive movement in Oil & gas player Total (+2.11%) as well as cherry picking in selected banking stocks; Zenithbank (+1.94%), Stanbic(+2.00%), Access (+0.60%),Guaranty (+1.52%), and Fidelitybk (+3.93%) contributed to the day’s performance. Though most stock closed flattish, Oando (-1.00%), UBN (-0.88%), Afriprud (-0.76%) and Maybaker (-3.91%0 were prominent among the laggards.
Market turnover was N2.92bln ($7.16mln) dominated by mixed interest related trades in Zenithbank, Guaranty and domestic interest in buacement. Year to date performance moderated to -1.92%. We expect the market to maintain a similar trading pattern in the coming session.
