From the trader's desk...   

Sep 28 (Lagos) - With the continued interest in a number of mid\large cap stocks such as; TOTAL (+10.00%), BUACEMENT (+480bps), OKOMUOIL (+256bps) and MTNN (+202bps), the Nigerian equities market extended its bullish performance into the new week, ending the first trading session up by 72bps to close at 26,507.84 points. 

Just like the previous session, activity levels for the day closed mixed, with the total volume traded increasing slightly by 0.30% while total value traded declined marginally by 5.80%, while trades in ZENITHBANK , MTNN and GUARANTY accounted for 65.60% of total turnover. Similarly, investors' sentiment as measured by the market breadth remained positive closing at 3.14x, courtesy of 22 gainers against 7 decliners.   

On the Bid Cart: The domestic bourse again benefited from gains in mid/large cap stocks amidst positive renewed interest. Subsequently, counters such as TOTAL (+10.00%), OANDO (+985bps), WAPCO (+631bps), BUACEMENT (+480bps), FBNH (+388bps), OKOMUOIL (+256bps), MTNN (+202bps), JBERGER (+191bps), ACCESS (+75bps) and FLOURMILL (+70bps) all closed in the green.     

On the Offer Cart: SEPLAT emerged as the lone large cap decliner for the day, shedding 50bps to close at N 398.00. Today's downward movement resulted from profit taking in the counter that closed as one of the gainers in the previous week. With the negative performance recorded today, its YTD performance worsened to -32.78%.        

reporting for on Monday, Sep 28 2020 from Lagos, Nigeria

Source - analysts at Vetiva Securities Limited in Victoria Island.
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