Market Wrap – 27th of December 2018

Decline from previous session’s gain in Dangcem (-3.25%) drove the equities market into the negative territory by -0.86%. FBNH (-4.65%), Access (-2.78%) and Total (-2.00%) also declined on the day. However, market breadth was positive again on the back of bargain hunting by locals. The banks – Zenith (+1.30), Guaranty (+0.29%) and Diamond (+9.84%) advanced alongside NB (+0.49%) to minimise the impact of the decliners.

Market turnover fell to N2.6bn ($7.14m), boosted by local crosses in Medview ($0.8m) and NEM ($0.4m). Ytd loss on the index widened to -17.13%. We expect the market to trade in a similar pattern next session.

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