The Nigerian All Share Index slipped lower by 34bps to settle at 24,117.40 at the close of today’s session. The weakness in the broad market index was largely on account of sustained pressure in the banking space. Specifically, losses recorded in Zenithbank (-3.70%), Guaranty (-3.18%), Access (-3.17%), UBA (-2.42%), FBNH (-1.92%), Fidelitybk (-2.25%) and ETI (-1.05%) dragged the index into the negative territory.
Market turnover was meager at N1.01bn ($2.72m), boosted by fragmented trades in Guaranty and Zenithbank. The NSEASI ytd return dipped further to -10.15%. We expect the market to maintain this trading pattern in the next session.