Daily Financial Market Report for January 25, 2019Opeyemi Kolawole
NSE Closes the week on a Positive Note…ASI Increased by 1.41%
The Nigerian Equities Market (NSE) continued positive momentum as investors maintained positive sentiments on major bellwethers. The bench mark- All Share Index (ASI) advanced by 1.41% to close at 31,426.63 points. Investors gained N161.06 billion to close market capitalization at N11.72 trillion while the Year-to-Date (YtD) returns stood at -0.01%.
Sectors performance was broadly bullish
Performance across sectors was broadly bullish as the banking, Oil & Gas and Industrial indices appreciated by 4.10%, 1.68% and 0.49% due to gains in the shares of Diamond (10.00%) and Fidelity (9.17%); Total (10.00%) and Oando (2.11%); Dangcem (1.04%). On the flip side, Consumer goods index recorded loss as it depreciated by 0.14% due to losses recorded in the shares of Flourmill (-0.51%). The insurance index closed on a flat note.
Market activity measured by aggregate volume increased by 56% while value decreased by 0.05%. Investors traded a total of 417 million units of shares valued at ₦3.14 billion in 3,970 deals.
Market synopsis for the week
Nigeria’s stock market continued its rally to close bullish this week on the back of bargain hunting activities on under priced stocks amid calmness in political uncertainties. The market had a significantly bullish performance as it closed positive in four of the five trading days of the week. The market recorded large gains on the third and last trading days due to positive sentiments on major bellwethers. Overall, the All Share Index (ASI) appreciated by 1.36% week-on-week, while the year-to-date returns closed flat at –0.01%.
Please find attached our daily market report for today, January 25, 2019.