The equities market closed the day on a positive note as the NGXASI inched higher by 56bps to settle at 98,230.94 points. A rise in Geregu(+9.52%) was a major support for the broad index, alongside gains in FBNH (+6.27%), Oando (+6.05%), Accesscorp(+2.09%) and Fidelity (+3.20%) amongst others. Notwithstanding, GTCO (-1.07%), Transcorp (-2.73%), Flourmill (-4.92%), UBA (-1.03%), WAPCO (-1.20%) and Intbrew (-5.58%) slipped and were among the key laggards today. Market breadth was fairly neutral.
Turnover was modest at N7.6bn ($4.6m) boosted by activities in FBNH, Oando and Zenithbank shares. The Index has returned +31.37% YTD. We expect market activities to remain positive in the coming session amid speculative buying.