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Daily Financial Market Report for January 23, 2019

Dear Client/Reader,

Nigerian Stock Market Closes on a Positive Note; ASI Inches by 0.46%

The Nigerian Equities Market (NSE) closed on a positive note after today’s trading activities as the bulls regained dominance. The bench mark- All Share Index (ASI) increased by 46 basis points to close at 30,878.56 points. Market Capitalization gained N52.83 billion to close at N11.51 trillion while the Year-to-Date (YtD) returns stood at -1.76%.   

Sectors performance was significantly bearish

Performance across sectors was significantly bearish as only the banking index appreciated by 1.64% due to bargain hunting in the shares of Guaranty (2.80%) and Zenith (0.69%). On the flip side, the Insurance, Oil & Gas and Industrial indices recorded losses as they depreciated by 0.24%, 0.14% and 0.04% respectively due to losses recorded in the shares of Sovrenins (-4.55%) and NEM (-4.40%); Forte Oil (-1.67%); Wapco (-0.40%). The Consumer goods closed on a flat note.

Market activity measured by aggregate volume increased by 53% while value increased by 21.5%. Investors traded a total of 376 million units of shares valued at ₦2.97 billion in 3,405 deals.

NASD Market

The NASD market closed flat after today’s trading activities as the Unlisted Securities Index (USI) remained at 749.31 points. Market Capitalization also remained at N538.33 billion. Market activity measured by aggregate volume increased by 357.11% while value declined by 70.17%. Investors traded a total of 2,001,500 units of shares valued at N3.43 million in 2 deals. Two securities traded on the NASD platform today and they include UBN Properties and Wamco Plc.

Please find attached our daily market report for today, January 23, 2019.

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