Trading activities for the week opened on a brighter in the domestic equities market as the NSEASI rose marginally by +12bps in the day. Mild gain in telecommunication giant Mtnn (+0.18%) with positive movement in selected names across the board underpinned today performance. Specifically, Uacn (+ 8.50%), Fcmb (+9.77%), UBN (+2.15%), Intbrew (+1.82%), UBA (+ 1.44%), Guaranty (+1.20%), Zenithbank (+0.70%) and Fbnh (+0.66%) all advanced. Notable laggards were Fidelitybk (-3.67%), Access (-1.32%), Maybaker(-1.22%), Dangsugar (-0.89%) and Ucap (-2.26%).
Market turnover was very impressive at N32.10bln ($84.24mln) boosted by N29.56bln ($77.60mln) block trades in Mtnn with mixed interest. Year to date performance moderated to -3.52%. We expect the market to maintain a similar trading pattern in the coming session.