Today, the All-Share depreciated by +0.32% to close at 104,518.32 points. This performance was on account of the sell pressure in tier-one banks; FBNH (-5.02%), Accesscorp (-4.20%), GTCO (-1.23%), Zenith (-1.23%) and UBA (-1.79%). Other banks like Sterlingng (-9.27%), Stanbic (-1.73%) were also today’s laggards. On the contrary, Dangsugar (+1.35%), Unilever (+4.48%), NGX Group (+5.84%), Mutual benefit (+9.38%), Flourmill (+0.64%) and Wapic (+5.81%) closed positively but were unable to salvage points as market breadth closed negatively.
Turnover was N8.91bln ($6.8mln) due to block trades in Access, UBA, Transcorp and Zenith. The Year-to-date performance of the index moderated to 39.33%. We anticipate the same trading pattern in the upcoming session.