The NGXASI ticked higher by +1.89% to settle at 39,592.29 points in today’s session on account of gains recorded in market heavy weight Dangcem (+6.53%), and Nestle( +6.36%). Renewed interest in some selected stocks; Presco (+5.48%), Afriprud (+5.13%), UCAP (+2.30%), Unilever (+2.27%), UACN (+1.49%), Wapco (+0.66%) and Guiness (+0.17%) contributed to the day’s performance. Also, FBNH (+6.625),UBA (+2.01%), ETI (+1.89%), Zenithbank (+0.86%), GTCO (+0.72%) and Access (+0.75%) advanced among the banks. In all market breath closed in the positive region, although Mansard (-10.00%), Jberger (-10.00%), Vitafoam (-4.575), Oando (-0.95%) and Fidelitybk (-0.83%) depreciated in the session.
Turnover improved was impressive at N4.00b ($9.70m) buoyed by domestic interest related block trades in FBNH. The YTD return on the NGX index narrowed to -1.68%. We expect the market to maintain a similarly flattish trading pattern in the coming session.