The ASI (+1.75%) closed on a positive note, due to gains recorded in large cap stocks Dangcem (+7.84%) and Mtnn (+3.94%) as well as positive movement in Jberger (+10.00%), Okomuoil (+5.26%) Uacn(+0.47%), and Zenithbank (+0.23%). Mixed reaction continued to trail Q1 earnings report in the banking space as Guaranty (-3.06%),ETI (-1.87%), Fcmb (-1.73%), Fidelitybk (-1.31%), Fbnh (-0.50%) and Uba (-0.05%) declined on profit taking.
Market turnover remained meagre at N2.03bln ($5.32mln) dominated by trades in Fbnh, Dangcem and Zenithbank. Year to date performance moderated to -2.01%. We expect the market to maintain a similar trading pattern in the coming session.
