Daily Financial Market Report for December 03, 2018Birgit Kaur
Nigerian Bourse Begins The Month Bearish…as ASI Sheds 24 Bps.
The Nigerian equities market (NSE) opened the week in red as negative sentiments continued to dominate trading activities. The bench mark – All Share Index (ASI) declined by 0.24% and close at 30,798.76 points. Market Capitalization lost N27.5 billion to close at N11.24 trillion while the Year-to-Date (YtD) returns weakened to -19.47%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Oil & gas and Banking indices which appreciated by 2.07% and 0.61% respectively due to gains in Seplat (4.16%); Zenith (1.72%) and Guaranty (0.87%). On the flip side, the Insurance and Consumer goods indices recorded the largest losses as they declined by 4.51% and 0.72% respectively arising from sell offs in Continsure (-10.00%) and Mansard (-9.90%); NB (-2.22%) and Cadbury (-2.63%). Similarly, loss in Dangcem (-1.02%) contracted the Industrial (-0.03%) sector.
Market activity measured by aggregate volume improved slightly by 0.13% while value also advanced by 14%. Investors traded a total of 250 million units of shares valued at ₦2.72 billion in 3,122 deals.
The NASD market also closed bearish after today’s trading activities to open the month in red. The Unlisted Securities Index (USI) depreciated by 0.45% to close at 702.40 points. Market capitalization also lost 45 basis points to settle at N488.18 billion. Market activity measured by aggregate volume declined by 98% while value also decreased by 47%. Investors traded a total of 792,430 units of shares valued at N17.4 million in 11 deals.
Please find attached our daily market report for today, December 03, 2018.