Daily Financial Market Report for December 06, 2018
Dear Client/Reader,
Nigerian Stock Market Wipes Previous Gains; Investors Lose N121 Bn.
The Nigerian equities market (NSE) reversed previous day’s gains as negative sentiments resumed to dominate trading activities. The bench mark – All Share Index (ASI) declined by 1.07% and close at 30,819.10 points. Market Capitalization lost N121 billion to close at N11.25 trillion while the Year-to-Date (YtD) returns weakened to -19.41%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish save for the Oil & gas and Insurance indices which appreciated by 0.52% and 0.25% respectively due to gains in Oando (4.04%); Custodian (3.03%) and Aiico (6.06%). On the flip side, the Industrial and Banking indices recorded the largest losses as they declined by 1.61% and 0.81% respectively arising from sell offs in Dangcem (-10.00%); Zenith (-1.47%) and Guaranty (-0.85%). Similarly, losses in Guinness (-1.02%) and Nestle (-0.34%) contracted the Consumer goods (-0.27%) sector.
Market activity measured by aggregate volume improved by 41% while value also advanced by 8%. Investors traded a total of 281 million units of shares valued at ₦2.49 billion in 3,030 deals.
NASD Market
The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) depreciated by 0.72% to close at 708.05 points. Market capitalization also lost 72 basis points to settle at N492.11 billion. Market activity measured by aggregate volume declined by 99% while value decreased by 96%. Investors traded a total of 122,053 unit of shares valued at N17.46 million in 7 deals.
Please find attached our daily market report for today, December 06, 2018.
