The All Share Index appreciated by 52bps today on account of gains recorded in telecommunication giant Mtnn(+1.19%), as well as positive movement in Flourmill (+9.33%), Uacn (+10.00%), Mansard (+5.96%), NB (+3.36%), Presco (+2.78%), Dangsugar (+2.21%) and Wapco (+1.28%). Notable gains in selected banks; UBA (+2.21%), Access (+2.11%), UBN (+1.79%), Fbnh (+1.33%), Fidelitybk (+2.95%) and Guaranty (+0.15%) contributed to the index performance. On the flip side, Ardova (-9.84%), Zenithbank (-0.38%),and Unilever (-0.37%) all declined in the day.
Market turnover was N6.39bln ($16.69mln) buoyed by mixed interest trades in Guaranty, Zenith and Nestle. Ytd performance improved to 2.25%. We expect the market to continue to oscillate around current levels in its bid to finding equilibrium from last year’s gains.