The ASI buckled 15bps as profit-taking commenced in Oil & Gas (-2.24%) and Banking (-1.79%) counters even as market heavyweight Dangcem(+0.37%) and some consumer names continue to enjoy some support.
Turnover of $11.6m was 47% lower than previous day with block trades by mixed interests in Zenith ($0.4m); Dangote Cement ($1.1m) and general activities in Guaranty ($1.4m), dominating the value chat. Activities were a 60/40 split in favour of internationals as locals joined in the profit-taking spree. There is still a glut of offers about, so we expect to see the profit taking continue tomorrow.
