A breather in the Nigerian equities market as the NSEASI (+0.14%) recovered some points after previous sessions’ dip. Though activity was tepid, the respite witnessed by the broad index was due to upward movement in some banks: Guaranty (+1.20%), Zenithbank (+0.90%), UBA (+0.75%), Fidelitybk (+0.56%) as well as gains in brewer, Intbrew (+7.14%). On the flipside, Cap (-10.00%) together with some consumer goods; PZ (-9.41%), Glaxosmith (-6.73%), Guinness (-1.94%) finished the session in the negative region.
Market turnover was N1.54bn ($4.00mln), boosted by mixed interest trades in Zenithbank, Guaranty and Access. The NSEASI ytd return moderated to -6.22%. We expect the market to witness the same sentiment in the next session.