The NSEASI (+0.85%) ticked higher today to close the month on a positive note (+5.96% m/m) at 26,837.42.Today’s gains were widespread, though mainly driven by a cross-induced gain in Dangcem (+2.81%) coupled with sustained positive movement in selected large caps: Total (+10.00%),MTNN (+1.18%), Guaranty(+3.70%) and Zenithbank (+2.00%). Other major market drivers were UACN (+9.45%), UBA (+2.48%), Intbrew (+1.30%), CAP (+0.59%) and Jberger (+0.31%). Market breadth was still in the green with about 2 advancers recorded for every one that declined. Nevertheless, NB (-6.76%), Dangsugar (-0.80%), UBN (-2.91%), and PZ (-5.88%) declined in the session.
Market turnover also improved to N4.04b ($10.49m), driven by mixed interest related block trades in Dangcem, MTNN and Zenithbank. The NSEASI ytd return moderated to -0.02%. We expect the market to witness similar sentiments in the coming session.
