The Nigerian equities market closed the day on a negative note as the NGXASI slipped by 19bps to settle at 105,799.17 points. Market activity today was uneventful with a negative market breadth as declines in Oando(-2.02%), GTCO(-0.57%), Fidelity(-2.04%), Intbrew(-5.45%), Zenithbank(-0.52%), UBA(-0.41%) and Ucap(-3.96%) pressured the local bourse, and ousting mild gains recorded in Stanbic(+4.24%), Dangsugar(+4.71%), Afriprud(+1.74%) and Jaizbank (+0.92%). Today’s performance has further moderated the YTD returns on the broad index to +2.79%.
Market turnover was N7billion ($4.5million) spurred by trades in MTNN and Zenithbank shares. We anticipate the market will trade around current levels in the coming session, with a bit of more activities.