Trading activities on the Nigerian equities market closed flattish today as the ASI dipped marginally by 3bps to finish at 27,033.10 points. Though the equities market seems to be getting some support from bargain hunters, weakness in NB (-2.13%),Guaranty (-0.37%), Zenithbank (-0.26%) however pressured the broad benchmark indicator into the red region. Consequently, these offset the gains recorded in Cadbury (+9.76%), Afriprud (+4.29%0, FBNH (+2.83%), Access (2.27%) and Glaxosmith (+2.22%), ETI (+1.56%) and UACN (+1.19%).
Market turnover trimmed to 3.5bn ($9.7 mln), though buoyed by mixed interest crosses in Nestle ($1.65 mln). The NSEASI ytd return tapered to +0.71%. We expect the market to maintain a similar trading pattern in the next session.