Daily Financial Market Report for August 17, 2020

Dear Client/Reader,

Equity Market Resumes New Week Bearish…ASI Dips By 27 Basis Points

The Nigerian Stock Exchange (NSE) retracts as the bears dominate proceedings in the market today. The benchmark All Share Index (ASI) waned by 0.27% to close at 25,132.67. Market Capitalization shed N29.30 billion to close at N13.12 trillion while the Year-to-Date (YtD) returns settled at -6.33%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as two sectors closed in the red zone. Insurance, Oil and Gas and Consumer Goods indices advanced by 2.89%, 0.49% and 0.23% respectively, on the back of buy interest recorded in the shares of Mansard (9.43%) and Cornerst (8.16%); Ardova (9.41%); Cadbury (4.70%) and Dangsugar (3.36%). Conversely, Industrial and Banking indices declined by 0.38% and 0.24% respectively, on the back of selloffs recorded in the shares of Dangcem (-0.74%); Access (-0.78%) and Guaranty (-0.20%).

NASD Market

The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 70 basis points to close at 718.43. Consequently, Market Capitalization also increased by 0.70% to close at N527.73 billion. Market activity measured by aggregate volume increased by 144.48% while value advanced by 438.22%. Investors traded a total of 25,670 units of shares valued at N7.18 million in 7 deals. Three securities traded on the NASD platform today and they are: NDEP Plc, WAMCO Plc and CSCS Plc.

Please find attached our Daily Financial Market update for today, August 17, 2020.

Thank you.

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