Trading activities for the week concluded on a positive note as the All Share Index rose by +0.9% to settle at 31,016.17 points. Positive response to Dangcem (+3.25%) Q3 earnings announcement and gains recorded in Wapco (+4.84%) accounted for the performance in the industrial sector. Also, commercial lender ETI (+9.80%), alongside its peers Fbnh (+6.20%), UBA (+5.84%), Guaranty (+3.72%), Access (+2.50%) and Zenithbank (+1.83%) as well as selected consumer goods: Uacn (+6.00%), Guinness (+5.74%), and Presco (+1.67%) advanced. Nevertheless, Buacement (-5.39%), Flourmill (-1.45%), Oando (-2.17%) and Custodian (-0.89%) declined..
Market turnover was impressive at N5.15bn ($13.36mln), buoyed by offshore related blocked trades in Stanbic, as well as mixed interest trades in Zenithbank and Fbnh. The NSEASI ytd return improved to +15.55%. We expect the market to witness the same sentiments in the next session, though not ruling out intermittent profit taking.
