Trading activity in the Nigerian equities market closed on a flattish note as the benchmark index inched up by 2bps today. Gains in Stanbic (+2.49%), Cadbury (+7.58%), UBN(+4.62%), PZ (+4.35%), FBN (+1.59%) and Okomuoil (+0.92%) ) supported the NSEASI to close in the positive region. Point amassed in the gainers sufficiently offset weakness in Fcmb (-2.70%),UBA(-2.08%), Zenithbank (-1.07%), Access (-1.00%) and Guaranty (-0.17%).
Market turnover closed at N3.1bn ($8.70 mln), buoyed by offshore interest in Access ($1.3mln), Guaranty ($1. mln) and NB($ 1.1mln). The NSEASI ytd return moderated to -15.16%. We expect the market to maintain this trading pattern in the next session.