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Nigeria Daily Market Report | Stocks Climb on Sustained Bargain Hunting... ASI up 2.1%
(Source: Afrinvest Research , Date: 05-Oct-2020)

Dear Afrinvestor, 

Market Statistics for Monday, 5th October 2020 

Market Cap (N'bn)


Market Cap (US$'bn)


NSE All-Share Index


Daily Performance %


WTD Performance %


MTD Performance %


QTD Performance %


YTD Performance % 


Daily Volume (Million)


Daily Value (N'bn)


Daily Value (US$'m)


Stocks Climb on Sustained Bargain Hunting... ASI up 2.1%
Trading resumed at the local bourse with sustained optimism as investors' interest in MTNN (+3.9%), AIRTELAFR (+5.3%) and ZENITH (+5.3%) drove a 2.1% rise in the benchmark index to 27,554.56 points. Consequently, investors gained ₦299.0bn as market capitalisation advanced to ₦14.4tn while YTD return rose to 2.7%. Activity level strengthened as volume and value traded spiked to 132.0% and 158.6% to 603.9m units and ₦7.4bn respectively. The most traded stocks by volume were ZENITH  (204.7m units), STERLNBANK  (55.2m units) and UBA (51.3m units) while ZENITH (₦3.8bn), GUARANTY (₦1.1bn) and UBA (₦328.8m) led by value.

Bullish Sector Performance 
Performance across sectors was impressive as all indices under our coverage gained. The AFR-ICT and Banking indices gained the most, appreciating 4.5% and 3.4% respectively, following buying interest in MTNN (+3.9%), AIRTELAFR (+5.3%) and ZENITH (+5.3%). The Insurance and Oil & Gas indices trailed, as bargain hunting in AIICO (+6.3%), ARDOVA (6.4%) and SEPLAT (+2.5%), respectively drove a 2.0% and 0.8% gains in the indices. Likewise, the Consumer and Industrial Goods indices inched up by 0.4% apiece due to investors' interest in DANGSUGAR (+2.3%), GUINNNESS (+7.1%) and WAPCO (+5.6%).

Investor Sentiment Strengthens
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 3.6x from the 1.9x recorded in the previous session as 36 stocks gained against 10 decliners. REDSTAREX (+10.0%), GLAXOSMITH (+10.0%) and NPFMCRBK (+9.6%) were top gainers while TRIPPLEG (-10.0%), OANDO (-8.7%) and UAC-PROP (-6.5%) led the laggards. We are optimistic about a sustained positive performance in the equities markets, given strong investors sentiment amid discounted valuation of stocks.

Corporate Actions
Fidelity Bank Plc announced the appointment of Engr. Henry Ikem Obih as an Independent Non-Executive Director and Dr. Kenneth Onyewuchi Opara as an Executive Director of the bank with effect from September 21, 2020 and January 1, 2021 respectively.

Berger Paints Plc notified shareholders of the Board of Director's approval of  Mrs Pheobe Onyinye Obi as the Chief Financial Officer in line with its plan to strategically position the Company's operations for increased efficiency and enhanced value creation.
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