Market wrap 29/09/2020

Trading activities on the Nigeria equities market finished on a brighter note as the NSEASI rose by +39bps to settle at 26,611.96 points in the day. Gains in large cap stocks Buacement (+3.34%), MTNN (+0.79%), and Seplat (+0.50%) as well as upward trend in ETI (+2.44%), Zenithbank (+1.16%), Guaranty (+0.19%) and Dangsugar (+1.63%) accounted for the broad performance. Nevertheless, Wapco (-6.25%) retreated on profit taking while Fbnh (-2.80%) and its peers; UBA (-0.82%), Access (-0.74%) and Fidelitybk (-0.53%) declined in the session.

Market turnover improved to  N4.53bn ($ 11.80mln), buoyed by mixed interest trades in Zenithbank, Dangcem and Guaranty. The NSEASI ytd return moderated to -0.86%. We expect the market to witness the same sentiment in the next session.


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