Trading activities in the Nigerian equities market remained subdued as the NSEASI commenced the week on a flattish note, appreciating +1bps on the day. Positive movement in telecommunication giant MTNN (+0.08%) as well as in Guaranty(+0.20%), Presco (+1.84%), UACN (+5.79%) and Intbrew (+3.03%) supported the index into the green region. Nevertheless market breadth closed southward as Jberger (-3.23%), FBNH (-1.01%), Flourmill (-0.76%) and Access(-0.78%) declined in the session.
Market turnover was meager at N1.72b ($4.48m), driven by domestic related trades in MTNN, FBNH and Zenithbank. The NSEASI ytd return moderated to -4.72%. We expect the market to witness similar sentiments in the coming session.
