October 5, 2020

Market wrap 05/10/2020

Trading activities in the Nigerian equities market for the week, kicked off on a positive note as the NSE All-Share Index appreciated by 2.11% to settle at 27,554.56 points. Large cap tickers continued to lead the charge as points amassed in telecommunication giants Artelafric (+5.32%) and MTNN (+3.85%), as well as Oil& gas major Seplat (+2.50%) supported the broad index’s performance. Also, sustained demand in Guaranty (+2.41%),Zenithbank (+5.26%), FBNH (+6.73%), Access (+5.97%) , UBA (+3.25%) and Wapco (+5.61%) buoyed them to close in the green region. Market breadth remained positive with over three gainer to every laggard.

Market turnover was impressive at N7.4bn ($16.45mln), buoyed by mixed interest Zenithbank, and Guaranty . The NSEASI ytd return improved to +2.65%. We expect the market to witness similar sentiments in the next session.