Daily Financial Market Report for December 18, 2018

Dear Client/Reader,

Bargain Hunting Activities Lift NSEASI By 0.70% Amid Strong Breadth

The Nigerian equities market (NSE) rebounded to close trading activities in green as market players hunted for bargain. The bench mark – All Share Index (ASI) advanced by 70 basis points to close at 30,822.33 points. Market Capitalization gained N75 billion to close at N11.26 trillion while the Year-to-Date (YtD) returns settled at -19.40%.   

Sectors performance was broadly bullish

Performance across sectors was broadly bullish save for the Consumer goods and Insurance indices which depreciated by 0.91% and 0.07% as a result of losses in NB (-3.40%) and Guinness (-1.37%); Continsure (-1.12%) and Mbenefit (-4.76%). Conversely, the Industrial and Oil & gas indices recorded the largest gains as they advanced by 1.63% and 1.50% respectively arising from positive sentiments in CCNN (9.91%) and Dangcem (2.16%); 11 Plc (8.56%) and Forte oil (9.91%). Similarly, gains in Guaranty (2.79%) and Diamondbk (9.62%) advanced the Banking (0.05%) sector.

Market activity measured by aggregate volume improved by 47% while value also spiked significantly by 194%. Investors traded a total of 316 million units of shares valued at ₦5.1 billion in 3,445 deals. 

NASD Market

The NASD market closed bullish after today’s trading activities as positive sentiments resume in the OTC market. The Unlisted Securities Index (USI) appreciated by 1.39% to close at 714.70 points. Market capitalization also gained 1.13% to settle at N496.73 billion. Market activity measured by aggregate volume advanced by 13,774% while value also spiked by 781%. Investors traded a total of 37.2 million units of shares valued at N453 million in 14 deals.

Please find attached our daily market report for today, December 18, 2018.