Trading activities in the equities market resumed the new week on a negative note (NSEASI -1.55%), albeit mostly on light volumes. Telecommunication giant MTNN (-6.67%) and some banking players ETI (-9.09%), FBNH (-7.69%), UBA (-2.17%), and Guaranty (-0.84%) were major drags on the performance of the board index, whilst Dangsugar (-3.02%) and CCNN (-2.95%) also closed underwater. On the flipside were NAHCO (+8.96%%); NASCON(+4.60%) ,WAPCO (+1.82%) and Access (+1.04%) which recorded some gains.
Compared to the previous session, market turnover improved slightly to N2.4bn ($6.7m), buoyed mainly offshore crosses in Guaranty($1.8m); local interest in CCNN($0.5m). The YTD loss on the NSEASI dipped further to -16.91%. We expect the market to maintain a similar trading pattern in the next session
