Daily Financial Market Report for August 19, 2020Yahya Abdulrahman
Bulls Gain Momentum on Local Bourse…ASI Gains 14 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 0.14% to close at 25,171.32. Market Capitalization gained N18.20 billion to close at N13.13 trillion while the Year-to-Date (YtD) returns settled at -6.22%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Banking, Consumer Goods and Insurance indices advanced by 0.81%, 0.41% and 0.19% respectively, on the back of buy interest recorded in the shares of Guaranty (1.20%) and Zenithbank (0.90%); Intbrew (7.14%); Mbenefit (5.00%) and Aiico (2.20%). Conversely, Industrial index declined by 0.04% on the back of selloffs recorded in the shares of CAP (-10.00%). However, Oil and Gas index closed flat.
The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 15 basis points to close at 709.43. Consequently, Market Capitalization also decreased by 0.15% to close at N521.12 billion. Market activity measured by aggregate volume increased by 42.45% while value declined by 14.51%. Investors traded a total of 761,395 units of shares valued at N61.04 million in 8 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, CSCS Plc and UBN Properties Plc.
Please find attached our Daily Financial Market update for today, August 19, 2020.
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