Market wrap 27/10/2020

Trading activities in the domestic equities market closed on a brighter note as the NSE All-Share Index remained unbeaten. The broad index appreciated by +0.70% to settle at 28,980.29 points, as bullish stance spread across the board. Notable, robust demand supported UBN (+8.25%),ETI (+8.16%), Guaranty (+1.96%), Zenithbank (+1.42%), Stanbic (+1.14%), FBNH (+0.82%) and Access (+0.65%) performance. Other key movers were, Buacement (+1.22%), as well as some consumer goods ; Flourmill (+9.50%), Cadbury (+9.21%), Guinness (+5.62%),  and Interbrew (+1.50%) among others.

Turnover was N2.91bn ($7.61m), buoyed by trade in Guaranty, FBNH, Zenithbank and Access. The NSEASI ytd return improved to +7.97%. We expect the market to get support at current level in the coming week as investor anticipated of Q3 earnings of quoted companies.

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