Trading in the Nigerian equities market ended on a positive note today, as the benchmark index appreciated by 0.57% to settle at 22,599.38 points. The indicator was strengthened by gains recorded in the communications giant MTNN (+4.00%) coupled with positive movement in some banking names . For specifics, UBN (+4.62%),Guaranty (+2.12%), Zenithbank (+1.08%) FCMB (+4.58%) and ETI (+2.22%) buoyed the banking index’s performance. Meanwhile points amassed in today’s advancers sufficiently offset weakness in cement producers , Dangcem (-1.14%) and Wapco (-1.71%). Other notable laggards were CAP (-9.91%), UACN (-8.15%), Access (-2.36%), FBNH (-2.25%) and UBA (-0.84%).
Market turnover closed at N2.23bn ($5.7mln), though buoyed by mixed trades in Guaranty, Dangcem and Zenithbank. The NSEASI ytd return moderated to -15.81%. We expect the market to witness the same sentiment in the next session.