Daily Financial Market Report for August 07, 2020Yahya Abdulrahman
Equity Market Closes Week Positive…ASI Gains 45 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 0.45% to close at 25,041.89. Market Capitalization gained N58.19 billion to close at N13.06 trillion while the Year-to-Date (YtD) returns settled at -6.71%.
Sectors performance was significantly bullish
Performance across sectors was significantly bullish as one sector closed in the red zone. Banking and Consumer Goods indices advanced by 2.38% and 0.42% respectively, on the back of gains recorded in the shares of Guaranty (2.53%) and Access (2.36%); Guinness (4.44%) and Dangsugar (3.48%). Similarly, Oil and Gas and Industrial indices increased by 0.08% and 0.02% respectively, on the back of buy interest recorded in the shares of Oando (0.86%); Wapco (0.43%). Conversely, Insurance index declined by 0.53% on the back of losses recorded in the shares of Chiplc (-8.89%) and Aiico (-3.23%).
Market synopsis for the week
The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in all five trading sessions. The market recorded gains all trading days of the week (0.29%, 0.31%, 0.16%, 0.19% and 0.45% respectively), due to buy interest in large and mid-cap stocks across Banking, Oil and Gas and Consumer Goods sectors. Overall, ASI advanced by 1.41% week-on-week, while the year-to-date returns settled at -6.71%.
Please find attached our Daily Financial Market update for today, August 07, 2020.
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