Daily Financial Market Report for August 11, 2020Yahya Abdulrahman
Bears Sustain Hold on Local Bourse…ASI Loses 58 Basis Points
The Nigerian Stock Exchange (NSE) retracts as the bears sustained dominance in the market today. The benchmark All Share Index (ASI) waned by 0.58% to close at 24,883.70. Market Capitalization shed N75.07 billion to close at N12.98 trillion while the Year-to-Date (YtD) returns settled at -7.30%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Consumer Goods, Banking and Oil and Gas indices advanced by 0.93%, 0.52% and 0.26% respectively, on the back of buy interest recorded in the shares of Cadbury (6.82%) and NB (6.25%); UBA (0.78%) and Zenithbank (0.30%); Ardova (4.94%). Conversely, Insurance and Industrial indices declined by 2.48% and 2.16% respectively, on the back of selloffs recorded in the shares of Prestige (-10.00%) and Chiplc (-9.76%); Dangcem (-4.09%) and Wapco (-0.42%).
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 70 basis points to close at 711.00. Consequently, Market Capitalization also increased by 0.70% to close at N522.28 billion. Market activity measured by aggregate volume decreased by 63.53% while value advanced by 186.12%. Investors traded a total of 53,432 units of shares valued at N13.99 million in 5 deals. Three securities traded on the NASD platform today and they are: NDEP Plc, WAMCO Plc and Mixta Real Estate Plc.
Please find attached our Daily Financial Market update for today, August 11, 2020.
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