The NSEASI (+0.45%) ended in positive territory in today’s session, effectively closing the month of November with a +14.78% return m/m. Today’s uptick was largely due to gains in telecoms giant Airtelafri(+10.00%) as well as Mansard (+2.56%) which ticked higher on proposed scrip issue and FCMB(+2.46%). On the contrary, banking heavyweights Guaranty (-5.14%); FBNH (-2.70%); ETI (-2.33%); Zenith (-1.84%); UBA (-1.19%) all contracted, alongside non-financials BUACEM (-1.79%) and Dangsugar (-1.50%).
Market turnover was N4.9bln ($12.8m), buoyed by mixed interest trades in Zenithbank; Nestle and Airtelafri. The NSEASI ytd return improved to +30.55%. We expect the market to resume the new month on a similar trading pattern tomorrow.
