The NSEASI (+0.01%) closed on a flattish note to settle at 39,131.80pts amidst tepid market activities. Perhaps due to uninspiring Q1 2021 record of Guaranty Trust Bank, investors’ traded cautiously in the early hours of the session as the market digested the lender’s result. Nevertheless, recovery from early weakness in Uacn (+1.43%), Guaranty (+0.16%) as well as positive movement in UBA (+2.07%), Fbnh (+1.37%), ETI (+1.01%), Access (+0.67%) and Oando (+3.96%) underpinned the broad index’s performance. Most stock finished unchanged, whilst Zenithbank (-1.35%),Cadbury (-3.70%), Fidelitybk (-1.77%), and Custodian (-0.82%) amongst others declined.
Market turnover was meagre at N2.64bln ($6.90mln) though boosted by trades in Guaranty and Zenithbank. Year to date performance moderated to -2.83%. We expect the market to maintain a similar trading pattern in the coming session.
