Daily Financial Market Report for December 07, 2018Birgit Kaur
NSE Loses Marginally Week-on-Week Despite Closing Positive Today
The Nigerian equities market (NSE) rebounded to close the week in green as positive sentiments prevailed. The bench mark – All Share Index (ASI) appreciated by 0.15% to close at 30,866.82 points. Market Capitalization also improved by N17.4 billion to close at N11.27 trillion while the Year-to-Date (YtD) returns settled at -19.29%.
Sectors performance was mixed
Performance across sectors was mixed as the Consumer goods and Insurance indices appreciated by 1.95% and 0.02% respectively due to gains in Dangsugar (2.70%) and Nestle (4.66%); Lasaco (7.41%). Conversely, the Banking and Industrial indices recorded losses as they declined by 0.47% and 0.35% respectively arising from sell offs in Guaranty (-0.29%) and UBA (-3.85%); Dangcem (-0.54%). The Oil & gas sector however closed flat.
Market activity measured by aggregate volume declined by 36% while value also decreased by 38%. Investors traded a total of 179 million units of shares valued at ₦1.56 billion in 2,631 deals.
Market Synopsis for the week
Nigeria’s stock market recorded its fourth consecutive weekly loss though on a slight margin as negative sentiments controlled market activities. The nation’s bourse had a broadly bullish performance as it closed positive in three of the five trading sessions. However, losses recorded on the first and fourth trading day (-0.24% and -1.07% respectively) on the back of profit taking in some high cap stocks in the Industrial and banking sectors marginally outweighed the gains recorded in other trading days. Overall, the All Share Index (ASI) depreciated by 0.02% week-on-week, while the year-to-date returns dipped slightly to -19.29%.
Please find attached our daily market report for today, December 07, 2018.