The ASI (+0.23%) appreciated marginally today, due to mild gains recorded in some blue-chip stocks and sustain upward trend in selected insurance stocks. The positive sentiment was broad based as Wapco (+8.16%), MTNN (+0.12%), Zenithbank (+0.38%), Guinness (2.43%), Ardova (+9.72%),UBA (+2.25%), NNFM (+10.00%) and Flourmill (+1.56%) among others, finished the session in the green territory. Market breadth was also positive with about three gainers to every laggard. Notwithstanding, Guaranty (-2.07%), Dangcem (-0.04%), Mansard (-10.00%) and Intbrew (-0.90%) were among the key laggards.
Market turnover was N4.61bln ($12.06mln) buoyed by mixed interest trades in Guaranty, as well as domestic interest in Wapco . Ytd performance improved to +2.18%. We expect the market to maintain a similar trading pattern in the coming session.