The Nigerian equities market concluded the day flattish (-0.08%), to settle at 100,486.12 points. The market breadth was negative with 25 losers against 13 gainers. Amongst the top losers were Zenithbank (-1.60%), UBA (-1.52%), FBNH (-0.91%), Wema (-3.91%), Sterling (-2.50%), FCMB (-1.30%) and Accesscorp (-0.26%). However, Oando (+2.27%), Flourmill (+2.22%) and GTCO (+0.11%) closed higher and mitigated some losses.
Index heavyweights like Dangcem, Buafoods, Buacem and Geregu closed flat.
Market turnover was low at N3.6 billion ($2.2 million), mainly driven by trades in Ucap. We anticipate the market will sustain its current levels in the next session.