Daily Financial Market Report for August 14, 2020Yahya Abdulrahman
Equity Market Closes Negative…ASI Dips By 15 Basis Points
The Nigerian Stock Exchange (NSE) retracts as the bears resurfaced in the market today. The benchmark All Share Index (ASI) waned by 0.15% to close at 25,199.84. Market Capitalization shed N19.37 billion to close at N13.15 trillion while the Year-to-Date (YtD) returns settled at -6.12%.
Sectors performance broadly bearish
Performance across sectors was broadly bearish as one sector closed in the green zone. Consumer Goods, Insurance and Banking indices declined by 0.68%, 0.55% and 0.19% respectively, on the back of selloffs recorded in the shares of Intbrew (-8.06%) and Cadbury (-3.87%); Aiico (-4.17%) and Wapic (-2.94%); Access (-1.54%) and Zenith (-0.30%). Conversely, Industrial index advanced by 0.24%, on the back of buy interest recorded in the share of Buacement (0.78%). However, Oil and Gas index closed flat.
The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in two of the five trading sessions. The market recorded losses on the first, second and last trading days of the week (-0.06%, 0.58% and -0.15% respectively) and recorded gains on the third and fourth trading days of the week (1.04% and 0.38% respectively), due to buy interest in large and mid-cap stocks across Banking, Consumer Goods and Oil and Gas sectors. Overall, ASI advanced by 0.63% week-on-week, while the year-to-date returns settled at -6.12%.
Please find attached our Daily Financial Market update for today, August 14, 2020.
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