Trading activities in the Nigerian equities market closed on a negative note as ASI depreciated by 0.47% largely due to weakness in equity heavy weight Dangcem (-4.17%), as well as southward movement in MTNN due to a N10 per share dividend mark down. In same manner, Uacn (-5.76%), Fidson (-2.95%), Dangsugar (-0.60%) and Ucap (-1.69%) all posted losses. Notwithstanding, market breadth closed in the positive region, PZ (+9.62%), Oando (+5.18%), Transcorp (+4.48%), Buafoods (+3.03%), Intbrew (+1.15%), Fcmb (+0.74%) and Accesscorp (+0.58) were notable in the gainers’ chat.
Turnover was N2.05bln ( $4.45mln) dominated by trades in GTCO, Zenithbank, Mtnn and Nestle. The YTD return on the NGX index dipped to +4.38%. We expect the same trading pattern in the coming session.