Daily Financial Market Report for January 28, 2019

Dear Client/Reader,

NSE Resumes Downtrend…as Investors Loses N30.7 billion

The Nigerian Equities Market (NSE) opened the week on a negative note as investors took profit on some high and mid cap stocks. The bench mark- All Share Index (ASI) declined by 0.26% to close at 31,344.24 points. Investors lost N30.72 billion to close market capitalization at N11.68 trillion while the Year-to-Date (YtD) returns stood at -0.27%.   

Sectors performance was significantly bearish

Performance across sectors was significantly bearish except for the Industrial sector which closed flat. The Insurance and Banking indices depreciated the most by 1.14% and 0.50% due to losses in the shares of Aiico (-5.63%) and Sovrenins (-4.76%); Fidelity (-5.60%) and Access (-2.31%). Similarly, the Oil & Gas and Consumer goods sectors also declined by 0.40% and 0.17% due to negative sentiments in Seplat (-3.70%); Mcnichols (-7.69%) and Cadbury (-2.00%).

Market activity measured by aggregate volume decreased by 47% while value also declined by 41%. Investors traded a total of 223 million units of shares valued at ₦1.84 billion in 4,150 deals.

NASD Market             

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) went down by 0.10% to close at 744.38 points. Market Capitalization also declined by 10 basis points to settle at N534.79 billion. Market activity measured by aggregate volume increased by 154.37% while value also advanced by 167.52%. Investors traded a total of 181,473 units of shares valued at N3.05 million in 6 deals. Three securities traded on the NASD platform today and they include SDCSCSPLC, SDFCWAMCO and SDNDEP.

Please find attached our daily market report for today, January 28, 2019.

Thank you.

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