Daily Financial Market Report for November 28, 2018
Dear Client/Reader,
Nigerian Bourse Continues Losing Streak…as ASI Sheds 48 Bps.
The Nigerian equities market (NSE) extended its losses to four consecutive days as negative sentiments dominated trading activities. The bench mark – All Share Index (ASI) declined by 0.48% to close at 31,023.47 points. Market Capitalization shed N54.83 billion to close at N11.33 trillion while the Year-to-Date (YtD) returns weakened to -18.88%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Insurance and Consumer goods indices which appreciated by 0.51% and 0.08% respectively due to gains in Continsure (10.00%); Flourmill (2.56%) and Cadbury (2.56%). On the other hand, the Oil & gas and Industrial indices recorded the largest losses as they declined by 0.79% and 0.42% respectively arising from sell offs in Oando (-6.06%) and Dangem (-1.55%). Similarly, losses in Zenith (-1.48%) and UBA (-2.00%) contracted the banking (-0.17%) sector.
Market activity measured by aggregate volume improved by 21% while value declined marginally by 1%. Investors traded a total of 220 million units of shares valued at ₦2.73 billion in 3,252 deals.
NASD Market
The NASD market reversed previous day gain to close bearish after today’s trading activities. The Unlisted Securities Index (USI) depreciated by 2.54% to close at 717.12 points. Market capitalization also lost 2.54% to settle at N498.42 billion. Market activity measured by aggregate volume advanced by 598% while value also went up by 94%. Investors traded a total of 570,200 units of shares valued at N21.17 million in 11 deals.
Please find attached our daily market report for today, November 28, 2018.