September 23, 2020/Cowry Asset
The domestic equities market ASI further rose by 0.50% to 25,783.02 points amid sustained bargain hunting activity even as the Exchange recorded 21 gainers as against 14 losers at the close of the trading session.
Hence the year to date loss of the NSE ASI lowered to 3.9%. Investors reacted positively to the benchmark rate (MPR) cut to 11.50% as Tickers in the real sector closed higher. Hence, share prices of bellwethers such as SEPLAT, MTNN , WAPCO and FLOURMILL appreciated by 3.90%, 0.73%, 1.54% and 1.78% respectively.
Interestingly, all the sub-sector indices tracked closed northwards: t h e N S E Banking, NSE Insurance,the NSE Consumer Goods, the NSE Oil/Gas and NSE Industrial indices gained0.65%, 1.09%, 1.35%, 2.02% and 0.09%respectively. Meanwhile, market activity remained upbeat as the total volume and value of stocks traded advanced by 58.05% and 42.74% to 0.41 billion units and N6.2billion.
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