Trading activities on the Nigerian equities market closed on a negative note as the NGXASI retreated marginally by -0.12% to settle at 38,802.15point. Weakness in Mtnn (-1.15%), as well as profit taking in selected stocks; Intbrew (-1.92%), Unilever (-1.05%), Afriprud (-3.10%), UBA (-0.64%), GTCO (-0.34%), Uacn (-0.88%), Nascon (- 0.33%), and ETI (-0.94%) dragged the broad index southward in today’s session. Nevertheless, positive movement in Jberger (+ 2.74%), Dangsugar (+2.24%), Ardova (+2.01%), Fidelitybk (+1.63%), Stanbic (+0.74%), Zenithabnk (+0.61%) and Access (+0.53%) salvaged some valuable points.
Market turnover was meagre at N1.89bln ($4.60mln), though boosted by trades in Mtnn, GTCO, Seplat and Access. The YTD return on the NGX index dipped to -3.65%. We expect the market to maintain a similar trading pattern in the coming session.
