The ASI (-0.12%) retreated marginally today, on account of weakness recorded in MRS (-9.82%), Cadbury (-9.72%), Guinness (-2.37%), Flourmill (-2.77%), UBA (-1.65%), Dangsugar (-0.98%), Dangcem (-0.21%),Guranty (-0.15%) and Mtnn (-0.12%) among others . Also the insurance index depreciated by -6.70% on the back of profit taking in bellwether stocks in the sector. Notwithstanding, gains in Wapco (+5.49%), NNFM (+10.00%), Ardova (+3.54%), UACN (+1.85%) and Zenithbank (+0.57%) salvaged some valuable points in the day.
Market turnover was N6.39bln ($16.69mln) buoyed by mixed interest trades in Guaranty and Zenithbank, as well as domestic interest in Wapco . Ytd performance improved to +2.06%. We expect the market to maintain a similar trading pattern in the coming session.
