The Nigerian equities market showed quite a weak sentiment today, closing lower at 97,473.98 points, down 0.24%. Dangsugar (-10.00%), UBA (-2.34%), FBNH (-2.00%), FCMB (-9.88%), PZ (-10.00%), Zenith (-0.86%) and Sterling (-5.32%) were the day’s major loosers. Nevertheless, some major players; Flourmill (+2.43%), Fidelity (+1.15%), Transcorp (+0.41%), Wapco (+0.30%), GTCO (+0.12%) and UCAP (+1.11%) managed to recover a few points for the day. Large-cap stocks—Dangcem, Geregu, Airtel, and Nestle traded flattish.
The N5.5 billion ($3.8 million) turnover was primarily driven by trading activities in GTCO, NB, Access and Zenith. The NGXASI year-to-date value has moderated to +30.36%. We expect similar trading pattern in the upcoming session.