Investors’ apathy capped turnover at N3.2bn ($8.9m), Zenith($1.3m) and Guaranty($1.3m) were the most traded names.

The equities market struggled to close higher today, needing a late domestic buying in tier I banks to shake off bearish moods from earnings anxieties.

Tier I bank  such as Guaranty(+2.94%) reversed intraday losses to close up on late domestic demand. Stanbic(+5%) hit a fresh all-time high on thin liquidity and FBNH(+4.87%) jumped on aggressive domestic buying.

UBA(-0.78%) and Zenith(-0.64%) also clawed back early losses albeit the comeback was incomplete. Consumers were strong gainers all day –  foreign buying pushed Unilever(+7.49%) to a fresh high, Flourmill(+2.78%) and Guinness(+1.43%) also advanced on decent demand. Mean reversion continued in Dangcem(-1.13%).

Investors’ apathy capped turnover at N3.2bn ($8.9m), Zenith($1.3m) and Guaranty($1.3m) were the most traded names. Today’s +0.33% gain lifted ytd to +12.68%, we expect the market to ease lower tomorrow still on delayed earnings.

Published by

admin

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).

Leave a Reply