Trading activities in the domestic equities market closed on a positive note as the NGXASI gained by +20bps at the close of today’s session. The performance of the broad index was supported by gains in Total (+6.45%), Oando (+9.90%), NB (+9.86%), Unilever (+9.84%), Stanbic (+6.32%), Jberger (+5.17%),GTCO (+1.65%),UBA (+1.23%), Zenithbank (+0.99%), ETI (+0.84%) and FBNH (+0.42%). Also, cement manufacturers Dangcem (+0.14%) and Wapco (+5.28%) contributed to the northward movement in the ASI. Nevertheless, Buacement (-3.89%), Afriprud (-3.33%), Aiico (-2.94%), Ucap (-2.22%), Presco (-2.18%), Accesscorp (-1.00%) and UBN (-0.78%) all declined.
Turnover was N4.04b ($9.70m) supported by fragmented trades Zenithbank, Presco, Wapco and GTCO. The YTD return on the NGX index improved to +13.68%. We expect the same trading pattern in the coming session.