The NSEASI rose by +14bps and was largely driven by the resilience shown in Guaranty (+1.36%) due to renewed buying. Also, UBN (+1.43%) appreciated alongside FBNH (+0.68%) and UBA (+0.75%) to dominate the performance among banking stocks whilst gains in Seplat (+0.85%) could not salvage sufficient points to move its sectoral index into the positive territory as 11Plc (-4.84%) stumbled post dividend markdown. Dangflour (-9.76%) retreated after its recent rally to lead the decliners alongside Zenith (-0.94%) which succumbed to late selling pressure.
Turnover fell to N2.3bn ($6.4m) buoyed by local crosses in Mobil ($1m) and offshore block trades Access ($0.9m). Ytd loss on the index stood at -7.06% whilst wtd return stood at -1.78. We expect the market to trade sideways next week
