The equities market fell to a 10-week low today as investors apathy increased amid looming US fed meeting.

The equities market fell to a 10-week low today as investors apathy increased amid looming US fed meeting. Large caps such as Seplat(-5%) and NB(-1.01%) dropped on weak demand. Sentiment in banking stocks were mixed – Guaranty(-1.77%) and UBA(-1.34%) both fell on a mix of mild foreign selling and weak demand; Stanbic(-1.73%) dropped on downgrades post conference call. On the flip side, FBNH(+2.56%) and Access(+1.69%) advanced on decent demand and low liquidity respectively.

Most investors remained on the sidelines today, leaving turnover of N3.9bn ($10.7m) to close 46% below this year’s daily average of N7bn.  Guaranty and Zenith accounted for 38% of activities Today’s -0.35% loss further cut ytd return to +9%, we expect the market to find support in coming sessions.

READ   The equities market reversed most of the previous session’s loss with a +0.61% gain on the index.

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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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