Daily Stock Market Scorecard, 16th October 2020

Market Summary

The local bourse opened the week on a negative note, continuing its losing streak from where it stopped the previous week.

The losing streak was halted on Tuesday with a  marginal gain, two days of flat performances followed.

Today, stocks claw back some of their losses as the All-Shares Index (ASI) appreciated by 1.11% to bring the year-to-date performance to 6.77%.

Market capitalization equally appreciated by 1.11% to close at N14.98 trillion, realising a one-day gain of N164 billion for investors.

All market indices closed in green with the NSE Banking index outperforming others with a gain of 4.47%.

Total volume traded improved by 42.93% while value traded declined by -6.34%.

Market sentiment was strongly positive today as 30 gainers were recorded as against 11 losers.

We expect that the new-found momentum and sentiment will continue into next week.

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