Today’s trading activities in the Nigerian equities market ended on a negative note, as profit taking disrupted the upward trend in the broad index. Consequently, the All Share Index finished lower by 0.22% to settle at 25,166.01 points at the close of the session. The weak performance in the market indicator was largely on account of points lost in some banking names; specifically ETI (-9.92%), UBA (-6.25%), Guaranty (-1.81%), Zenithbank (-2.51%), and FBNH (-3.51%) among others. Notable, market heavyweights Dangcem and MTNN advanced by +0.87% apiece, though these gains proved insufficient to offset the impact of the laggards on the day’s performance.
Market turnover was N3.43bn ($8.08mln), buoyed trades in Guaranty, Zenithbank and MTNN. The NSEASI ytd return dipped to -6.42%. We expect the market to witness the same sentiments in the next session.