Trading activities closed on a positive note as the ASI appreciated marginally by 21bps to settle at 39.198.75 in the last session of the week. Sustained positive movement in Oil & gas major Seplat (+2.58%) as well as recovery in some commercial lenders’ stock; UBN (+9.09%), Stanbic (+2.40%), Zenithbank (+1.14%), Guaranty (+0.86%), Fcmb (+3.45%) and Access (+0.62%) largely contributed to the day’s performance. Nevertheless, Ginness (-3.33%), Wapco (-2.14%) and UBA (0.69%) declined in the day.
Market turnover was N2.95bln ($7.71mln) buoyed by trades Zenithbank, Guaranty and Access. Year to date performance moderated to -2.66%. We expect the market to maintain a similar trading pattern in the coming session.
