Daily Financial Market Report for August 06, 2020Yahya Abdulrahman
Bulls Sustain Dominance on Local Bourse…ASI Gains 19 Basis Points
The Nigerian Stock Exchange (NSE) sustained its uptrend as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.19% to close at 24,930.34. Market Capitalization gained N25.20 billion to close at N13.01 trillion while the Year-to-Date (YtD) returns settled at -7.12%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Oil and Gas, Banking and Consumer Goods indices advanced by 4.36%, 0.14% and 0.09% respectively, on the back of buy interest recorded in the shares of Seplat (9.03%) and Eterna (4.40%); UBA (2.38%) and Zenithbank (1.21%); Nascon (4.17%) and Guinness (3.85%). Conversely, Industrial and Insurance indices declined by 0.67% and 0.02% respectively, on the back of selloffs recorded in the shares of Buacement (-1.74%); Linkassure (-5.00) and NEM (-1.58%).
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 57 basis points to close at 706.07. Consequently, Market Capitalization also increased by 0.57% to close at N518.65 billion. Market activity measured by aggregate volume decreased by 98.69% while value declined by 83.13%. Investors traded a total of 16,978 units of shares valued at N1.20 million in 6 deals. Two securities traded on the NASD platform today and they include: CSCS Plc and WAMCO Plc.
Please find attached our Daily Financial Market update for today, August 06, 2020.
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