The Nigerian equities market recorded its first gain in five trading sessions as the ASI appreciated by 0.20% at the close of the day. Dangcem closed flat after eroding intra-day loses while MTNN (+ 0.79%) rose due to last minute gain. FO (+9.81%) rebounded from preceding session’s losses; while Dangflour (+9.78%), Access (+6.67%), NB (+1.72%) and Oando (+1.25%) closed in the green zone. Despite the decent improvement in the ASI , market breath remained in the negative region; prominent laggards includes CCNN (-8.05%), UACN (-6.90%),PZ (-3.33%) and Stanbic (-1.30%) ticked down at the close of the session.
Turnover improved marginally at N2.84bn ($7.8m) with block trades in Dangcem ($1.15m) Access($0.25m), Guaranty ($0.34m) and FBNH($0.52m) which involved mixed interests were captured on the day. Wtd return stood at -2.27% while Ytd loss on the index moderated to -11.17%. We expect the market to maintain the same trading pattern in the next session