The equities market posted a flat performance of -0.01%, driven by late recovery in Dangcem (+0.80%) from its intra-day decline alongside gains in the banks – Zenith (+0.93%), FBNH (+0.61%) and Access (+0.78%). Market activity was subdued for extended periods during the session due to investor apathy. The consumers declined on tiny post midday cross in NB (-3.60%) though the impact was tapered by gains in Unilever (+1.30%) and Cadbury (+9.60%).
Market turnover was unimpressive at N1.7bn ($4.7m), dominated by crosses in Dangcem ($1m). Ytd loss on the index stood at -1.25%. We expect the market to trade sideways in the next session.
