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Nigeria Daily Market Report | Investors Extend the Bullish Run... ASI up 0.8%
(Source: Afrinvest Research , Date: 30-Sep-2020)

Dear Afrinvestor, 

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

Investors Extend the Bullish Run... ASI up 0.8%
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.

Bullish Sector Performance 
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 Strengthens
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 Q3:2020 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.
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