Turnover slipped to a 7-week low of N3.1bn ($8.7m) 54% below this year’s daily average of N6.8bn ($m).

The equities market edged lower today as demand slowed amid a mix of buying fatigue and incessant supply. Index heavyweight – Dangcem(-0.77%) was a notable drag on the index, dropping  % on weak demand.

Financial stocks continued to trend lower – Zenith(-0.95%) closed below its 200-day moving average and in oversold territory on sustained foreign selling while UBA(-0.91%) and Access(-2.50%) dropped on domestic selling. Consumer stocks traded mixed – Unilever(-3.53%) and Intbrew(-0.65%) fell on weak demand while NB(+0.54%) and Dangsugar(+0.91%) ticked higher on value buying

Turnover slipped to a  7-week low of N3.1bn ($8.7m) 54% below this year’s daily average of N6.8bn ($m). Today’s -0.08% drop trimmed ytd return to +6.72%, we expect the market to find support in coming session on bargain hunting

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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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