Daily Financial Market Report for August 10, 2020Yahya Abdulrahman
Bears Claw Back on Local Bourse…ASI Dips Marginally by 6 Basis Points
The Nigerian Stock Exchange (NSE) retracts as the bears resurfaced in the market today. The benchmark All Share Index (ASI) waned by 0.06% to close at 25,027.61. Market Capitalization shed N7.45 billion to close at N13.06 trillion while the Year-to-Date (YtD) returns settled at -6.76%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Insurance, Consumer Goods and Oil and Gas indices advanced by 0.96%, 0.33% and 0.08% respectively, on the back of buy interest recorded in the shares of Cornerst (9.09%) and Sunuassur (5.00%); Guinness (6.38%); Oando (0.85%). Conversely, Industrial and Banking indices declined by 0.41% and 0.04% respectively, on the back of selloffs recorded in the shares of Buacement (-1.39%); UBA (-1.53%) and Zenithbank (-0.59%).
The NASD market closed flat after today’s trading activities as the Unlisted Securities Index (USI) settled at 706.07. Consequently, Market Capitalization remained unchanged as it closed at N518.65 billion. Market activity measured by aggregate volume increased by 16.09% while value advanced by 100.19%. Investors traded a total of 146,490 units of shares valued at N4.89 million in 16 deals. Five securities traded on the NASD platform today and they include: Firsttrust Mortgage Bank Plc, CSCS Plc, NDEP Plc, WAMCO Plc and Afriland Properties.
Please find attached our Daily Financial Market update for today, August 10, 2020.
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