Investors maintained a bullish attitude in today’s trading session as buying interest in DANGCEM (+2.8%), MTNN (+1.2%) and GUARANTY (+3.7%) drove an 83bps increase in the benchmark index to 26,831.76 points. As a result, market capitalisation improved to ₦14.0tn as investors gained ₦116.7bn while YTD loss improved to 2bps. Activity level weakened as volume and value traded fell 21.9% and 10.8% to 322.8m units and ₦4.0bn respectively. The most traded stocks by volume were STERLNBANK (83.7m units), ACCESS (46.1m units) and ZENITH (24.9m units) while DANGCEM (₦1.2bn), MTNN (₦532.5m) and ZENITH (₦443.4m) led by value.
Performance across sectors was bullish as all indices under our coverage closed north save the Consumer Goods index which closed 1.7% south due to sell-offs in NIGERIAN BREWERIES (-6.8%) and DANGSUGAR (-0.8%). Conversely, the Banking indicator led the gainers, up 1.9% on the back of gains in GUARANTY (+3.7%), ZENITH (+2.0%) and UBA (+2.5%). In the same vein, the Industrial Goods and Oil & Gas indices were up 1.4% and 0.9% respectively, stoked by price appreciation in DANGCEM (+2.8%), TOTAL (+10.0%) and ETERNA (+9.6%). Lastly, the AFR-ICT and Insurance indices advanced 0.6% and 0.3% respectively on the back of buying interest in MTNN (+1.2%) and WAPIC (+5.7%).
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 2.5x from the 1.5x recorded previously as 20 stocks gained against the 8 that declined. TOTAL (+10.0%), ETERNA (+9.6%) and UACN (+9.4%) were top gainers while UPL (-6.8%), NIGERIAN BREWERIES (-6.8%) and WAPCO (-5.9%) led the underperformers. We remain optimistic about a sustained bullish run as we approach earnings season.
Corporate Actions
SEPLAT PLC notifies the general public about the upcoming board meeting on Q3:20 20 Financial Results scheduled for Tuesday, 27th October 2020.
JAIZ BANK PLC informs the general public of an upcoming extra-ordinary general meeting to be held on Wednesday, 28th October 2020.
Market Statistics for Wednesday, 30th September 2020
| Market Cap (N’bn) | 14,024.5 |
| Market Cap (US$’bn) | 36.3 |
| NSE All-Share Index | 26,831.76 |
| Daily Performance % | 0.8 |
| WTD Performance % | 1.9 |
| MTD Performance % | 5.9 |
| QTD Performance % | 0.0 |
| YTD Performance % | 0.0 |
| Daily Volume (Million) | 322.8 |
| Daily Value (N’bn) | 4.0 |
| Daily Value (US$’m) | 10.5 |
