Trading activities for the week began on a positive note as the All Share Index appreciated marginally by 28bps to settle at 28,777.96 points. Today’s performance was largely underpinned by gains recorded in the banking space as investors sought to take profitable position as Q3 earnings announcements continue to trickle in. Save for Access (-0.65%), positive sentiments supported ETI (+.7.69%), UBA (+2.13%), Fidelitybk (+1.98%), Zenithbank (+0.71%), Guaranty (+0.66%) and UBN (+1.04%). Other key movers were cement manufacturers Dangcem (+0.66%) and Wapco (+0.56%) as well as selected consumer goods; Flourmill (+5.22%), Glaxosmith (+4.63%), Cadbury (+1.33%) and Guinness (+0.31%) all advanced.
Turnover was N5.56bn ($14.47m), buoyed by mixed interests trades in Guaranty, Dangcem, and Zenithbank. The NSEASI ytd return improved to +7.21%. We expect the market to get support at current levels this week on anticipation Q3 earnings.