The Nigerian market closed flat, as the All-Share index dipped marginally by 1.95 points to close at 47,064.82. However, market breadth improved to 1.33x, after 28 stocks yielded to buy pressure, with the likes of NASCON (+943bps), FCMB (+503bps), FLOURMILL (+493bps), ETERNA (+440ps), and FBNH (+179bps) closing the day in the green zone. Meanwhile, losses in BERGER (-958bps), GUINNESS (-233bps), STANBIC (-188bps), TRANSCORP (-85bps), and ZENITHBANK (-74bps) cancelled out the gains, as the session closed with a total of 21 decliners. Market activity trended down, with volume and turnover declining by 18.88% and 32.74% to 274m units and N3.8 billion respectively, while trades in GUINNESS accounted for 30.46% of the day’s turnover.

What will shape the market tomorrow?

Today’s sectoral performance was mixed with the banking sector pulling the index down the most as investors took profit. We expect a tepid session tomorrow, with bargain hunting activities across board.   

Stocks to Watch

On the bid Cart: With YTD return now at 130%, RTBRISCOE continues its price rally, finishing the session on the top gainers chart to close at N0.46.  

On the Offer Cart: After trading flat at N8.35 since February 2nd, BEGRGER closed the day as the worst performing stock with a 9.58% price dip, increasing YTD loss to 11.70%.