Market Rally on the News of COVID-19 Vaccines by Pfizer…ASI Jumped by 3.96%

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -
Equities market opened the week on an impressive note following news of possible COVID-19 vaccine effectiveness by Pfizer. The All Share Index (ASI) jumped by 3.96% to 32,243.05 while market capitalization gained  N641.08bn to close at N16.85trn. Consequently, Year to Date performance improved to +20.12%.

The sectorial performance was significantly bullish as all sectors closed on a green note. Banking and industrial indices both jumped by 6.59% and 5.54% following gains in the shares of GUARANTY(+5.22%), ZENITHBANK (+7.40%), DANGCEM (+6.02%) and BUACEMENT (+4.42%).

Similarly, consumer goods, insurance and oil & gas indices advanced by 1.78%, 1.57% and 0.98% on the back of bargain hunting in the shares of  NNFM(+10.00%), MBENEFIT (+10.00%) and OANDO (+10.00%). Elsewhere, Dangote Cement released Q3-2020 result posting  12.01% and 35.20% growth in Revenue and Profit After Tax. Kindly refer to our earnings update for detailed analysis.

The bond market traded on a bullish note as average yield compressed across different maturities. Bullish sentiment was majorly witnessed on long and mid dated maturities with yield compressing by 0.09% and 0.15% respectively.

Market Snapshot

  • Equities Market Opened the Week on a Positive Note…ASI jumped by 396bps
  • The bond market closed positive  as yield compressed across various maturities
  • Stocks Surge to All-Time Highs on Vaccine Optimism
  • Oil Jumps by Most Since June on Covid Vaccine Progress
  • Naira depreciated  against the USD in both the I&E window and the parallel market
- Advertisement -

Equities Market Opened the Week on a positive Note...ASI jumped by 396bps
SOURCE: NSE, PFI Capital

- Advertisement -
Market Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand SpurMarket Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  Great, South Africa found Gas. Now what?

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand SpurMarket Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand Spur

Latest News

5 Books Every Marketing Communications Practitioners Should Read

The Marketing Communications landscape in Nigeria is getting more competitive than many would have expected. Communication agencies from Advertising...

Cowrywise raises $3M pre-Series A

Nigerian fintech company, Cowrywise has closed a $3mn pre-Series A fundraise, led by Quona Capital. The new funding will enable the fintech company to expand...

5 Business Opportunities that a Landowner can exploit.

A landowner has various opportunities or ways by which the land can be utilized apart from selling it. A landowner needs to think like...

5 Basic Steps that can help you build a successful business.

Starting a business is no an easy task especially one that needs adequate preparation in order to succeed. Most neglect the adequate preparation needed to...

How Brands are changing the face of smart cities.

The emergence of smart cities has changed the way and lenses in which people view the development of states and nations. The emergence of smart...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Market Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand SpurMarket Rally on the News of COVID-19 Vaccines by Pfizer...ASI Jumped by 3.96% - Brand Spur