Trading activities on the Nigerian equities market closed on a positive note as the NGXASI appreciated by +1.59% to settle at 40,221.17 points. Today’s performance was largely on account of sustained upward movement in industrial giant Dangcem (+7.28%), as well as gains recorded in Presco (+4.22%), Okomuoil (+2.55%), NB (+1.54%), Wapco (+0.66%) and GTCO (+0.54%). Nevertheless, MTNN (-0.06%), Nestle (-0.60%), Unilever (-2.22%), UBN (-2.00%) and UBA (-0.66%) all declined in the session.
Turnover improved was impressive at N4.55b ($11.00m) buoyed by domestic interest related trades in Transcorp and Dangcem. The YTD return on the NGX index narrowed to -0.12%. We expect the market to maintain a similarly flattish trading pattern in the coming session.