According to Afrinvest notes to investors performance across sectors was bullish as 5 indices gained while 1 index lost. The AFR-ICT index led the gainers, up 1.8% following price uptick in AIRTELAF (+3.2%). Trailing, the Consumer Goods and Banking indices rose 0.5% and 0.2% respectively on the back of gains in NESTLE (+1.9%), FLOURMILL (+3.0%), ETI (+2.7%), and UBA (+0.6%). Also, price appreciation in WAPCO (+1.6%) and MRS (+9.9%) drove the Industrial Goods and Oil & Gas indices up 0.2% and 0.1% respectively. Conversely, the Insurance index fell 0.1% on account of sell pressure on LINKASSURE (-6.4%) and WAPIC (-2.2%).
it said that investor sentiment, as measured by market breadth, improved to 0.08x from -0.04x recorded in the previous trading session as 21 stocks advanced, 15 declined while 72 closed flat. We expect the positive performance to be sustained in the next trading session.
