Market wrap 15/10/2020

Improved trading activities on the Nigeria equities market though the NSEASI (0.00%) finished the session down by 0.29 points to settle at 28,344.04 pts in the day. Cherry picking by investor ahead of Q 3 earnings announcement supported today’s activities as the session witnessed more demand in selected stocks. Key movers were Wapco (+4.03%), Guinness (+3.23%), Intbrew (+3.19%), UBA (+0.76%), Dangsugar (+0.37%) and NB (0.20%).  Nevertheless, the bullish stance continued to taper as Access (-1.27%), ETI (-1.15%), Guaranty (-1.67%), Glaxosmith (-3.45%) and Fidelitybk (-0.98%) all declined.

Market turnover improved to N5.04b ($13.14m), driven by mixed interest in Zenithbank, Guaranty and UBA . The NSEASI ytd return stood at +5.60%. We expect the market to witness similar sentiments in the coming session.

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