Daily Financial Market Report for January 21, 2019Opeyemi Kolawole
Nigerian Bourse Breaks Seven Consecutive Gains; ASI drops by 88 Bps
The Nigerian Equities Market (NSE) halted its seven consecutive gains on the back of profit taking actions by investors. The bench mark- All Share Index (ASI) decreased by 0.88% to close at 30,732.72 points. Market Capitalization lost N101.60 billion to close at N11.46 trillion while the Year-to-Date (YtD) returns stood at -2.22%.
Sectors performance was mixed
Performance across sectors was mixed following two sectoral gains and losses apiece. The Insurance and Industrial sectors recorded gains as they appreciated by 1.51% and 0.97% respectively due to positive sentiments in the shares of NEM (4.84%) and Linkassure (8.93%); CCNN (7.17%). Conversely, Oil & Gas and banking sectors declined by 4.55% and 0.14% respectively due to losses in Seplat (-7.99%) and 11 Plc (-4.26%); Diamond (-0.95%) and Guaranty (-0.78%). The Consumer goods sector however closed flat.
Market activity measured by aggregate volume increased by 66% while value increased by 47%. Investors traded a total of 499 million units of shares valued at ₦5.53 billion in 3,874 deals.
The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) declined by 0.54% to close at 750.30 points. Market Capitalization also decreased by 54 basis points to settle at N539.04 billion. Market activity measured by aggregate volume decreased by 41.78% while value increased by 285.53%. Investors traded a total of 7.08 million units of shares valued at N103.68 million in 15 deals. Six securities traded on the NASD platform today and they include CSCS Plc, Wamco, Afriland, Cappa D’alberto, UBN Properties etc.
Please find attached our daily market report for today, January 21, 2019.