Equities Market Reacts to 3rd Quarter Earnings…ASI crossed 30,000 Mark

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Equities Market Reacts to 3rd Quarter Earnings...ASI crossed 30,000 Mark
Equities Market Reacts to 3rd Quarter Earnings...ASI crossed 30,000 Mark - www.brandspurng.com

The Nigerian equities market sustained  bullish momentum following release of Q3-2020 earnings by large and mid-cap stocks. Notably,  All Share Index (ASI) jumped by 3.71%  to close at 30,530 today closing the week with an impressive 6.39% positive despite trading for only 4 days. Market capitalization also gained N575.90 billion to close at N15.96 trillion as the YtD performance hopped to 13.74%.

Equities Market Reacts to 3rd Quarter Earnings...ASI crossed 30,000 Mark
Equities Market Reacts to 3rd Quarter Earnings…ASI crossed 30,000 Mark – www.brandspurng.com

Performance across sectors was significantly bullish as all sectors under coverage closed positive.  Banking, insurance and consumer goods  indices advanced by  3.48%,  2.32% and 5.58% respectively on the back of bargain hunting in the shares of  UBA (3.38%), GUARANTY (2.88%); MBENEFIT ( 5.00%), NESTLE (10.00%) and INTBREW (10.00%). Similarly, Industrial and oil and gas indices  advanced  by 5.53% and 3.07% respectively due to positive sentiments in the shares of CAP (10.00%) and MOBILE (9.98%)

The bond market traded on a quiet note as average yield remained stable across major  maturities.  An 0.01% declined in yield was witnessed on shorter maturities while that of mid and long dated instruments remained stable 

Equities Market Snapshot

Equities Market Sustained Rally…ASI crossed 30,000 Point

  • Bond market traded on a quiet note as average yield remain stable
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Market Reacts to 3rd Quarter Earnings...ASI crossed 30,000 Mark
Market Reacts to 3rd Quarter Earnings…ASI crossed 30,000 Mark – www.brandspurng.com