The equities market maintained the positive trend as buying interest in ZENITH (+1.2%), DANGSUGAR (+1.6%) and ETI (+2.4%) lifted the benchmark index by 39bps to 26,611.96 points. Consequently, market capitalisation improved by ₦54.4bn to ₦13.9tn while YTD return improved to -0.9%. Activity level increased as volume and value traded climbed 22.7% and 12.4% to 413.1m units and ₦4.5bn respectively. The most traded stocks by volume were ZENITH (90.9m units), STERLNBANK (82.3m units) and UBA (56.7m units) while ZENITH (₦1.6bn), DANGCEM (₦1.0bn) and GUARANTY (₦448.2m) led by value.
Sector performance remained sublime as all 6 indices under our coverage gained. The Industrial Goods index recorded the most gain, up 0.8% due to buying interest in BUACEMENT (+3.3%). In the same vein, the Banking and AFR-ICT indices advanced 0.4% apiece owing to price upticks in ZENITH (+1.2%), GUARANTY (+0.2%) and MTNN (+0.8%). Furthermore, the Oil & Gas and Insurance indices rose 0.3% and 0.2% respectively due to price appreciation in SEPLAT (+0.5%), OANDO (+0.5%), and AIICO (+6.3%). Lastly, the Consumer Goods index climbed 0.1% following price appreciation in DANGSUGAR (+1.6%) and HONYFLOUR (+2.2%).
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 1.5x from the 3.1x recorded previously as 16 stocks gained against the 11 that lost. WEMABANK (+7.5%), AIICO (+6.3%) and AFRIPRUD (+4.0%) were top gainers while ETRANZACT (-10.0%), CORNERSTONE (-8.5%) and WAPCO (-6.2%) led the underperformers. We expect sustained buying interest in subsequent trading sessions as investors continue to take position in fundamentally sound stocks ahead of earnings releases.
Corporate Actions
Sterling Bank Plc obtains an approval from the Central Bank which allows it to operate as a holding company. ABC TRANSPORT PLC announces intention to raise between ₦1.0bn and ₦1.4bn additional capital from its existing shareholders.
Market Statistics for Tuesday, 29th September 2020
| Market Cap (N’bn) | 13,907.8 |
| Market Cap (US$’bn) | 36.0 |
| NSE All-Share Index | 26,611.96 |
| Daily Performance % | 0.4 |
| WTD Performance % | 1.1 |
| MTD Performance % | 5.1 |
| QTD Performance % | 8.7 |
| YTD Performance % | (0.9) |
| Daily Volume (Million) | 413.1 |
| Daily Value (N’bn) | 4.5 |
| Daily Value (US$’m) | 11.7 |
