It was another quiet trading session today on the Nigerian equities market as the NGXASI closed on a flattish note, dipping marginally by -0.01% in the day. Though most stock closed unchanged, the index’s performance was on account weakness recorded in selected banking stocks; Access (-1.10%) , ETI (-0.90%), GTCO (-0.88%), and FBNH (-0.68%). Nevertheless, mild gains recorded in Glaxosmith (+1.67%), Vitafoam (+1.61%), UBA (+1.32%), UBN (+0.96%), Guinness (+0.95%) and Wapco (+0.68%) recovered some value points .
Market turnover was N2.67bln ($6.48 mln), though buoyed by trades in Nestle. The YTD return on the NGX index stood at -1.80%. We expect the market to maintain a similar trading pattern in the coming session.
