The non-financial counters principally showed the NSEASI some love today, and it recouped some of the previous session’s decline with a modest +0.12% uptick to close at 32,453.69. Consumer majors Unilever(+6.82%), PZ (+5.42%) and UACN(+3.23%) topped the positive chart, alongside cement heavyweights Dangcem (+3.08%) and WAPCO (+0.53%) on pullback in sale pressure, though NB(-1.23%) and Flourmill(-2.12%) dropped. The gainers effectively muted the mixed performance in the banks where UBA(+1.29%) and FCMB(+4.80%) improved on local bargain hunting; mild profit-taking in FBNH(-1.19%) and mixed selling in Zenith(-0.60%) and Access(-0.75%). Market breadth was overall still positive, with almost two advancers recorded for every one that declined.
Activities were relatively calmer today ahead of the presidential elections, but market turnover remained decent at $10.3m, boosted by mixed interests related crosses in Guaranty ($0.9m); Diamond($0.5m) and ETI($0.4m). Ytd gain on the index is now at +3.26%. We expect the market trade sideways in the coming session.
