Market Wrap 18/04/2019

The NSEASI rose by +39bps and was largely propelled by the performance of Dangcem (+0.53%). Access (+3.01%) continued in its positive trajectory post earnings declaration as its trading activity alongside Zenith (0.00%) accounted for 56% of value traded. Other banks – UBA (+2.31%), ETI (+2.38%), FBNH (+1.32%) and Guaranty (+0.14%) advanced at subdued activity levels in an apparent pre-holiday session. On the contrary, Jberger (-9.09%) and Lafarge (-4.17) declined to pull back some gains on the day.

Market turnover was unimpressive at N1.7bn ($4.8m) buoyed by crosses in Access ($1.3m) involving mixed interests. Ytd loss on the index shrunk to -4.27% whilst wtd performance was +1.76. We expect the market to trade sideways next week.

Our site uses cookies to enhance your experience. By continuing to browse, you agree to our Privacy Policy