Daily Financial Market Report for January 02, 2019

Daily Financial Market Report for January 02, 2019

Dear Client/Reader,

Equities Market Begins 2019 On A Negative Note… as ASI Dips 1.15%

The Nigerian Equities Market (NSE) resumed the Year on a downward note as investors wiped most of the gains recorded on the New Year eve. The bench mark – All Share Index (ASI) declined by 1.15% to close at 31,070.06 points. Investors lost N134 billion to close Market Capitalization at N11.59 trillion while the Year-to-Date (YtD) returns began at -1.15%.   

Sectors performance was significantly bearish

Performance across sectors was significantly bearish except for the Banking index which appreciated by 0.08% due to gains recorded in Guaranty (0.15%) and UBA (1.30%). On the other hand, the Consumer goods and Insurance sectors recorded the largest losses as they depreciated by 2.30% and 1.31% respectively due to losses in NB (-8.42%) and Flourmill (-3.90%); NEM (-3.70%) and Wapic (-4.76%). Similarly, the Industrial and Oil & gas indices also declined by 1.20% and 0.66% arising from sell offs in Dangcem (-1.95%) and Wapco (-3.61%); Forte oil (-2.44%) and Oando (-4.00%). 

Market activity measured by aggregate volume decreased by 77% while value declined by 60%. Investors traded a total of 214 million units of shares valued at ₦1.56 billion in 2,856 deals. 

NASD Market

The NASD market started the year on a bearish note as the Unlisted Securities Index (USI) went down by 0.07% to close at 740.16 points. Market capitalization also declined by 7 basis points to settle at N514.43 billion. Market activity measured by aggregate volume decreased by 91% while value went down by 99%. Investors traded a total of 34,383 unit of shares valued at N281,847.75 in 3 deals.

Please find attached our daily market report for today, January 02, 2019.

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