The domestic equities market edged higher in today’ session as the All Share Index rose by 38bps to settle at 25,236.97 points. The benchmark performance was primarily due to points amassed in telecommunication major MTNN (+0.84%) as well as upward movement in some consumer goods: Unilever (+8.33%), NB (+5.88%), and Flourmill (+2.32%). Gains recorded in Fidelitybk (+3.28%), Stanbic (+2.42%), FCMB (+2.00%) and Access (+1.56%) were trimmed by declines in Sterlnbank (-4.17%) ETI (-1.22%) and Guaranty (-0.20%). Also, Wapco (-0.42%) and Buacement (-0.26%) closed underwater among the industrial goods.
Market turnover was meager at N1.67bn ($4.37mln), buoyed by mixed interest trades in Guaranty and Zenithbank. The NSEASI ytd return moderated to -5.98%. We expect the market to witness the same sentiment in the next session.
