Banking stocks were a major drag on the bourse, Guaranty lost -7.07% in its first ex-div trading.

The equities market fell for the eleventh session in almost as many trading days as apathy increased in the absence of fresh positive cues. Banking stocks were a major drag on the bourse, Guaranty lost -7.07% in its first ex-div trading. ETI(-4.39%), UBA(-2.54%) and Access(-1.76%) all slipped on weak demand.

Cement majors also weighed on the bourse – Dangcem(-0.78%) and Wapco(-4.72%) tumbled on risk aversion. Capping today’s loss were consumers  – Glaxo(+10.03%), Unilever(+4.86%), PZ(+4.55%) and Cadbury(+4.14%) all rose on modest demand. Stanbic(+3.67%) also jumped in its last cum div trading.

The increased apathy condemned turnover to a 2week low of N3.66bn ($10.08m), today’s sole notable trade was a 5mln cross in Guaranty between foreign investors. Today’s -1.07% loss cut ytd return +6.69%, we expect the market to find support in coming sessions.

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Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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