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All Share Index Gains As Banks Report Healthy Earnings

By on October 19, 2011

The All Share Index appreciated by 0.93% to close at 20,197.15 led by a strong performance in the banking sector.
After releasing its 3Q earnings yesterday, Zenith Bank was up 5% in trading today.

Access Bank released healthy 3Q earnings today reporting a 33.8% rise in Net profit. Its shares were also up 5% to close at N 5.25. Wema Bank posted a modest N 1.5 Billion result recently, the market reacted sendig its shares upwards by 4.92%.

EcoBank (+4.76%), Fidelity (+4.65%), GTB (+3.69%), Sterling (+4.51), UBA (+0.88%) and First Bank (+3.87) also posted gains as Investors trooped in droves to the banking sector.

Across other sectors, Oando led in the Petroleum Marketing segment as it bagged the full 500 basis points. Whilst Dangote Sugar bagged 492 basis points in the Food and beverages sector.

237 Million shares exchanged hands today at a value of N 2.4 Billion.