The Nigerian equities market consolidated on gains recorded in preceding sessions as the NSEASI surged by 3.02% to settle at 22,539.94 points. Today’s gains recorded in heavy weight Dangcem (+10.10%) buoyed the broad index to a strong close. Also points amassed in NB (+9.84%), Zenithbank (+9.66%), Guaranty (%7.09%), dangsugar (+8.55%),Access (+6.87%) and UBA (+3.17%) supported the rally.
Market turnover improved to N3.34bn ($8.59mln), boosted by mixed interest trades in Guaranty, and Zenithbank. The NSEASI ytd return moderated to -16.03%. While we expect market sentiment to remain positive, we do not rule out profit taking in the coming session.
