October 27, 2020/Cowry Asset Report

The Nigerian bourse sustained its northward movement as its ASI advanced by 0.70% even as the Exchange recorded 46 gainers as against 2 losers at the close of trading session. Hence, the year to date gain of the NSE ASI rose to 7.9%.

Sentiment remains positive in the market as Bellwethers such as GUARANTY, BUACEMENT, ZENITHBANK and FBNH appreciated by 1.96%, 1.22%, 1.42% and 0.82% respectively. Performance across sub-sector gauges tracked was bullish as all the indices tracked closed in green; the NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices are 2.16%, 2.72%, 0.92%, 0.82% and 0.45% respectivel.

Meanwhile, market activity was mixed as the total volume of stocks traded rose by 13.14% to 0.38billion unit; however, the value of stocks traded moderated by 47.59% toN2.9billion.

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