Equities Market sustains bullish momentum investors gain N25.2bn

At the close of trade, the All-Share Index rose 19bps to close at 24,930.34 points due to buying interest in SEPLAT (+9.0%), STANBIC (+4.8%) and MTNN (+0.4%). As a result, investors gained ₦25.2bn as market capitalisation increased to ₦13.0tn while YTD loss eased to -7.1%. Activity level declined as volume and value traded fell 54.7% and 45.2% to 173.7m units and ₦2.1bn respectively. The top traded stocks by volume were FBNH (29.8m units), GUARANTY (13.2m units) and CUSTODIAN (12.8m units) while MTNN (₦636.6m), GUARANTY (₦312.6m) and STANBIC (₦158.7m) led by value.

Performance across sectors was bullish as 4 of 6 indices under our coverage closed in the green. The Oil & Gas and AFR-ICT indices advanced 4.4% and 0.2% respectively due to buying interest in SEPLAT (+9.0%), ETERNA (+4.4%) and MTNN (+0.4%). Similarly, the Banking and Consumer Goods indices rose 0.1% apiece due to price appreciation in STANBIC (+4.8%), ZENITH (+1.2%), GUINNESS (+3.9%) and NASCON (+4.2%). Conversely, the Industrial Goods index led laggards, down 0.7% due to a price decline in BUACEMENT (-1.7%) while losses in LINKASSURE (-5.0%) and NEM (-1.6%) dragged the Insurance index 2bps lower.

Market Statistics for Thursday, 6th August 2020 

Market Cap (N’bn) 13,005.1
Market Cap (US$’bn) 33.7
NSE All-Share Index 24,930.34
Daily Performance % 0.2
WTD Performance % 1.0
MTD Performance % 1.0
QTD Performance % 1.8
YTD Performance % (7.1)
Daily Volume (Million) 173.7
Daily Value (N’bn) 2.1
Daily Value (US$’m) 5.5

Source: Afrinvest

Categories: Finance,News,Stock Market

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