The equities market moved into the red territory as the index closed -1.07% lower. Cement major, Dangcem (-2.63%) declined alongside Nestle (-0.34%) and the banks – Guaranty (-0.85%), Zenith (-1.47%), Access (-2.67%) and Stanbic (-1.05%) though masked by gains in UBA (+0.65%) and Diamond (+9.41%) which continued its recovery after the recent selloffs.
Market turnover inched up to N2.5bn ($6.8m) boosted by block crosses in involving mixed interests in FBNH ($1.5m) whilst offshore counterparts exchanged NB ($0.6m). Ytd loss on the index widened to -18.41%. We expect the market to trade sideways in the next session.
