Trading activities for the week commenced on a positive note as the All Share Index appreciated marginally by 29bps to settle at 24,766.12points. Today’s performance was due to upward movement recorded in Flourmill (+9.97%) on its impressive H1 earnings and bargain hunting in cement giant; Buacement (+2.03%). Also, gains recorded in Guaranty (+1.56%) contributed alongside its peers: UBA (+1.61%), FBNH (+1.00%), Access (+0.79%) and Zenithbank (+0.31%). On the flip side UACN (-10.00%) buckled as investors reacted negatively to its recent Q2 results. Also, Dangsugar (-3.77%), FCMB (-2.05%) and ETI (-1.20%) declined during in the session.
Market turnover was meagre at N1.31bn ($3.36mln) though buoyed trades in Guaranty and Zenithbank. The NSEASI ytd return moderated to -7.73%. We expect the market to trade sideways in the next session.
