Daily Financial Market Report for January 10, 2019

Dear Client/Reader,

Nigerian Bourse Halts Downtrend…as ASI Improves By 62 Bps.

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 0.62% to close at 29,517.73 points. Market Capitalization gained N67.5 billion to close at N11.01 trillion while the Year-to-Date (YtD) returns settled at -6.09%.   

Sectors performance was broadly bearish

Performance across sectors was broadly bullish save for the Consumer goods and Insurance indices which depreciated by 1.75% and 2.05% as a result of losses in Nestle (-3.37%) and Guinness (-10.00%); NEM (-9.95%) and Mbenefit (-4.76%). Conversely, the Industrial and Banking indices recorded the largest gains as they advanced by 2.24% and 2.74% respectively arising from positive sentiments in CCNN (4.85%) and Dangcem (0.88%); Guaranty (6.07%) and Zenith (2.86%). Similarly, the oil & gas index inched up by 0.13% due to gains in Forte oil (6.07%).

Market activity measured by aggregate volume improved by 64.03% while value also increased by 36.61%. Investors traded a total of 385 million units of shares valued at ₦3.1 billion in 3,677 deals. 

NASD Market

The NASD market closed bearish after today’s trading activities as negative sentiments remained in the OTC market. The Unlisted Securities Index (USI) depreciated by 0.55% to close at 731.89 points. Market capitalization also declined by 55 basis points to settle at N525.82 billion. Market activity measured by aggregate volume advanced by 927% while value went up by 397%. Investors traded a total of 9.35 million units of shares valued at N112.7 million in 5 deals. CSCS Plc and Wamco Plc were the only traded stocks in the OTC market.

Please find attached our daily market report for today, January 10, 2019.