Trading activities on the Nigerian equities market closed on a negative note as the NGXASI edged lower by -0.78% to settle at 37,658.26 point. Today’s performance was on account of weakness in large cap stocks Dangcem (-3.91%) and Mtnn (-1.21%) coupled with loses recorded in UBN (-7.76%), Fcmb (-3.23%), Flourmill (-0.17%) and Cadbury (-2.50%). These masked gains recorded in PZ (+6.36%), Presco (+4.55%), GTCO (+3.45%), UBA (+1.40%), Access (+1.20%),Stanbic (+0.88%), Fbnh (+0.69%), Dangsugar (+0.56%) and Fidelitybk (+0.43%).
Market turnover was N2.41bln ($5.85mln), boosted by trades in GTCO, Presco and Zenithbank. The YTD return on the NGX index moderated to -6.49%. We expect the market to maintain a similar trading pattern in the coming session.