The losing streak on the Nigerian equities market extended into today’s trading session as the ASI dipped marginally by 8bps to close at 27,547.56 points. While other sectors finished on a flattish note, weakness in banking names like FBNH (-2.52%), UBA (-1.95%), Guaranty (-0.52%), Zenithbank (-0.51% and UBN (-0.71%) contributed the most to the southward movement on the broad equities benchmark indicator.
Market turnover remain improved marginally to 2.1bn ($5.9 mln), buoyed by offshore interest in Guaranty ($1.07 mln), and Zenithbank ($0.67 mln). The NSEASI ytd return tapered to +2.63%. We expect the market to maintain this trading pattern in the next session.
