The equities market retreated for the third consecutive session as the NSEASI closed -39bps lower. Market sentiments remained subdued due to sustained selling in the banks which subsequently influenced decline among consumer majors – Dangsugar (-3.17%) and Unilever (-1.96%). Dangcem (-0.53%) crumbled on tiny volumes to lead the losers alongside ETI (-0.53%), Access (-4.27%). Zenith (+0.49%) and UBA (+0.79) provided a little comfort into close to marking the uneventful session.
Market turnover rose to N2.9bn ($8m), dominated by mixed crosses in Zenith ($0.9m) and local Sterlnbank ($0.7m). Ytd loss on the index widened to -5.97%. We expect the market to trade sideways in the next session
