Negative sentiments persisted in the Nigerian equities market as the ASI booked a negative return of -0.09%, another lower low of the year at 26,365.83 pts. The broad equity tracker finished underwater on account of losses in market heavy weights MTNN(-0.77%) and Dangcem (-0.07%) amid low investor appetite. On the flip side, Stanbic (+2.07%), Access (+ 0.68%) and Zenithbank (-0.29%) gained in the banking space, while CCNN (+0.95%) and UACN (+1.56%) closed the session stronger.
Market turnover improved tremendously to N7.7bn ($21.26m), underpinned by an off shore related cross in Zenithbank ($16.32m) . The NSEASI ytd return dipped further to -16.11%. We expect the market to maintain this trading pattern in the next session.
