The equities market opened bullish due to price appreciation in MTNN (+2.0%), WAPCO (+6.3%) and FBNH (+3.9%). Consequently, the All-Share Index advanced 72bps to 26,507.84 points. Market capitalisation rose ₦98.5bn to ₦13.9tn while YTD return improved to -1.2%. Activity level was mixed as volume traded advanced 0.3% to 336.8m units while value traded decreased 6.9% to ₦4.0bn. The most traded stocks by volume were ZENITH (89.5m units), STERLNBANK (72.3m units) and UBA (42.3m units) while ZENITH (₦1.6bn), MTNN (₦692.2m) and GUARANTY (₦396.2m) led by value.
Performance across sector was impressive as all 6 indices under our coverage appreciated. The Insurance index advanced the most, up 1.8% following gains in AIICO (+9.7%) and WAPIC (+2.9%). Similarly, the Oil & Gas and AFR-ICT indices climbed 1.3% and 1.1% respectively due to price appreciation in TOTAL (+10.0%), OANDO (+9.9%) and MTNN (+2.0%). In the same vein, the Consumer and Industrial Goods indices rose 0.5% apiece on the back of buying interest in INTBREW (+8.3%), WAPCO (+6.3%) and BUACEMENT (+0.3%). Lastly, the Banking index increased 0.3% as investors took position in FBNH (+3.9%), UBN (+3.0%) and ACCESS (+0.8%).
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 3.1x from the 1.2x recorded previously as 22 stocks gained against the 7 that lost. TOTAL (+10.0%), CHAMPION (+9.9%) and OANDO (+9.9%) were top gainers while UAC-PROP (-10.0%), BETAGLAS (-9.9%) and CAVERTON (-6.5%) were the laggards. We anticipate a sustained bullish momentum in the next trading session.
Market Statistics for Monday, 28th September 2020
| Market Cap (N’bn) | 13,853.4 |
| Market Cap (US$’bn) | 36.4 |
| NSE All-Share Index | 26,507.84 |
| Daily Performance % | 0.7 |
| WTD Performance % | 0.7 |
| MTD Performance % | 4.7 |
| QTD Performance % | 7.3 |
| YTD Performance % | (1.2) |
| Daily Volume (Million) | 336.8 |
| Daily Value (N’bn) | 4.0 |
| Daily Value (US$’m) | 10.5 |
