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Daily Financial Market Report for January 29, 2019

Dear Client/Reader,

Negative Sentiments Persist In The Nigerian Bourse; ASI Down 0.53%

The Nigerian Equities Market (NSE) closed bearish after today’s trading activities as political uncertainties continued. The bench mark- All Share Index (ASI) declined by 0.53% to close at 31,178.71 points. Investors lost N61.73 billion to close market capitalization at N11.63 trillion while the Year-to-Date (YtD) returns closed at -0.80%.   

Sectors performance was significantly bearish

Performance across sectors was significantly bearish except for the Industrial sector which closed flat. The Banking and Consumer goods indices depreciated the most by 1.45% and 0.56% due to losses in the shares of Access (-3.94%) and Zenith (-2.13%); Mcnichols (-8.33%) and NB (-2.38%). Similarly, the Insurance and Oil & Gas sectors also declined by 0.23% and 0.13% due to negative sentiments in Linkassure (-9.68%) and Cornerstone (-4.76%); Eterna (-3.37%) and Oando (-0.98%).

NASD Market             

The NASD market rebounded to close positive after today’s trading activities as the Unlisted Securities Index (USI) advanced by 0.73% to close at 750.34 points. Market Capitalization also increased by 73 basis points to settle at N539.08 billion. Market activity measured by aggregate volume decreased by 97.25% while value also declined by 97.79%. Investors traded a total of 10,220 units of shares valued at N253,180 in 4 deals. Two securities traded on the NASD platform today and they include CSCS Plc and Wamco Plc.

Please find attached our daily market report for today, January 29, 2019.

Thank you.

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