The Nigerian equities market succumbed to late sell pressure, leaving the NGXASI down by 0.14% to close the week at 109,028.62 points. Market performance slipped on the back of weak demands in Transcorp(-9.95%), MTNN(-1.82%), NB(-5.10%), Oando(-3.00%), Transcorp(-1.05%) and Zenithbank(-0.42%). Nonetheless, market breadth remained positive with gainers outnumbering losers. Specifically, Wapco(+4.30%), UBA(+3.61%), Fidelitybank(+7.49%), GTCO(+1.45%), FirstHoldCo(+1.41%) and Accesscorp(+0.47%) provided some succor to the market.
Market turnover was fairly decent at N18.1Billion ($11.4Million) buoyed by block transactions in MTNN and NB. We expect a positive session in the week ahead as investors take position in fundamentally sound stocks.