The Nigerian equities market ended the trading day on a negative note, down by 0.33% to settle lower at 99,468.90 points. This bearish performance was majorly due to losses in Seplat (-8.30%). Other key laggards were Transcorp (-3.63%), Accesscorp (-1.04%) and Oando (-2.94%). On the reverse side, Airtel (+0.14%), UBA (+1.10%), Wapco (+1.10%), FBNH (+0.44%) and GTCO (+0.22%) finished higher but were unable to push the market into the positive trajectory.
The market breadth was relatively flat with 19 gainers against 17 losers. Index heavyweights such as Buafoods, Dangem, Buacem, and Geregu closed flat and remained quiet throughout the session.
Market turnover reached N5.4billion ($3.5million) driven by crosses in Seplat involving majorly foreign interest. Year to date, the index is up by +33.03%. We anticipate the market to trade around the current levels in the next session.