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Equity Market Report - 20 October, 2020
(Source: Vetiva Research, Date: 20-Oct-2020)
Daily Equity Market Report,
20th October, 2020

From the trader's desk...
Despite trading most of the session in the red, the ASI managed to close the day higher, rising marginally by
3bps to close at 28,665.82 points. The recoveries came largely on the back of gains in NB (+467bps), FLOURMILL (+455bps) and JBERGER (+266bps) among others, neutralizing the effect of losses in GUINNESS (-368bps), UNILEVER (-259bps) and GUARANTY (-130bps) among others. On the flip side, activity levels continued on yesterday's downward slope, with the total volume and value traded declining 39.22% and 37.99% respectively, while ZENITHBANK, UBA and GUARANTY emerged as the most traded stocks by value. However, sentiment remained positive at 1.35x as a total of 23 stocks closed higher while 17 stocks closed lower.                                                     
For a breakdown of stock performances, please see the pricelist.

What will shape the market tomorrow?
Though the market closed the day marginally higher, sectoral performances however closed in the red as all sectors settled under except for the Consumer goods sector which advanced by 1.86%. With the turmoil going on and the uncertainties of the direction of the civil unrest, we expect a number of investors to stay on the sideline as a more cautious trading strategy is adopted.                                      
Stocks to Watch
On the Bid Cart: INTBREW continued on a positive trajectory, leading the other gainers for the day to close at ₦6.44. The counter again improved by
990bps to close at its intra-day maximum price as investors' again scrambled for position in the counter. Following today's capital appreciation, its YTD performance moderated to -32.21% (vs the -38.32% recorded yesterday).                                                          

On the Offer Cart: With the declines recorded in UBN (-303bps), UBA (-282bps), ACCESS (-252bps), GUARANTY (-130bps) and FIDELITY (-97bps), the Banking sector trailed the Insurance sector (-117bps) as the second worst performing sector for the day, recording a loss of 102bps while its YTD performance worsened to -3.29%. 
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