Mixed sentiments continued to trail the domestic equities market today and the NSEASI closed flattish at 38,704.97 points(down -0.05%), as select bargain hunting in a few counters offset contraction in others. Upticks in non-financials like CAP (10%), Jberger(+9.89%), NB (+2.13%) and Oando (+1.63%) were overshadowed by declines in Flourmills (-2.36%); Guinness(-0.79%) and WAPCO(-0.44%). The banks were also predominantly negative led by weakness in ETI(-5.88%); Zenith(-2.22%) and FCMB (-1.35%) which overshadowed gains in Access( +1.23%) and Guaranty (+0.16%).
Market turnover was decent at N5.98bln ($5.7mln) boosted by blocked trades involving mixed interests in Stanbic, NB, Dangsugar, Dangcem and MTNN. The Year to date loss on the market index moderated to -3.89%. We expect the market to maintain a similar trading pattern in the coming session.
