The Nigeria equities market closed positive as the All Share Index appreciated marginally by 3 bps to 30741.88. Market capitalization also gained N4.40bn to close at N16.07tn. Consequently, Year to Date (YTD) performance improves to +14.53%.
Performance across sectors was significantly bullish with 4 out of the 5 sectors under coverage closing positive. Oil & Gas and Consumer goods indices advanced by 0.35% and 0.05% on the back of bargain hunting in the shares of JAPAULOIL (4.35%) and DANGSUGAR (0.65%).
Similarly, Insurance and industrial indices both inches up 3 bps due to positive sentiment in the shares of CHIPLC(8.82%) and CAP(3.14%). Banking index, however, closed flat. Elsewhere, PRESCO released Q3-2020 earnings with 24.48%% and 50.99% growth in revenue and profit after tax respectively. Kindly, refer to our earnings update for full analysis.
The bond market closed on a positive note as average yield compressed across all maturities. Notably, Yield on short and long-dated maturities declined by 0.46% and 0.22% respectively.