Sustained local buying in MTNN (+0.73%) pulled the index giant higher on a few crosses intraday. Oil & gas majors: Seplat (+3.90%) and Mobil (+0.31%) also moved positively to keep the NSEASI in green region, as the benchmark rose by +0.50% to 25,783.02pts. Other major drivers included: NB (+3.57%), Zenithbank (+1.86%), Flourmill (+1.78%), Wapco (+1.54), UBA (+0.83%), and Guaranty (+0.39%) which advanced on relative improved bargain hunting. In all, market breadth was positive as about 3 advancers were recorded for every 2 decliner.
Market turnover was impressive at N6.28bn ($16.41mln), dominated by local crosses in MTNN. The negative NSEASI ytd return moderated to -3.95%. We expect the market to witness similar sentiments in the next session.
