Lacklustre activities continued to prevail in the domestic equities space to kickstart the new week as investor sentiments remained tilted to the cautious side. The NSEASI declined by -0.40% to 38,712.55 points as the bears prevailed. The laggards cut across various sectors led by banking and brewery majors Stanbic(-9.94%); Guinness (-9.93%); FCMB (-4.11%), Intbrew(-2.63%);ETI (-2.04%); NB(-1.76%)and UBA(-0.71%) alongside Oando(-1.09%) from energy space; Dangsugar(-2.06%) and PZ(-5.15%) from the consumers and from Insurance-Custodian (-8.40%) and Mansard(-5.10%). These easily offset upticks is the likes of UACN (+2.15%); UCAP(+1.85%), FBNH (+0.69%) and Access(+0.62%). The Exchange also announced the full suspension of 11Plc from trading ahead on plans for the final delisting of the company as requested by the organization.
Market activity remained weak with a turnover of N1.36bln ($3.58mln) with no major equities trades observed. Year to date performance moderated to -3.87%. We expect the market to maintain a similar trading pattern in the coming session.