Today’s trading activities on the Nigerian equities market closed on a negative note as the ASI retreated marginally by 5bps to settle at 39,305.48 points. Weakness in selected banking stocks; UBA(-1.33%), Access (-1.32%), ETI (- 0.95%), Fbnh (-0.67%),Guaranty (-0.48%), and Zenithbank (-0.45%) contributed to the day’s performance. These masked positive movement in Okomuoil (+5.56%), Ardova (+5.46%), Uacn (+0.46%), Fidelitybk (+0.44%), and Wapco (+0.22%).
Market turnover was N1.77bln ($4.64mln) dominated by trades in Zenithbank, Access and Guaranty. Year to date performance edged lower to -2.40%. We expect the market to maintain a similar trading pattern in the coming session.
