Daily Financial Market Report for August 21, 2020Yahya Abdulrahman
Equity Market Closes Week Bullish…ASI Gains 7 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 0.07% to close at 25,221.87. Market Capitalization gained N9.01 billion to close at N13.16 trillion while the Year-to-Date (YtD) returns settled at -6.04%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as one sector closed in the red zone. Consumer Goods, Oil and Gas and Insurance indices advanced by 1.06%, 0.43% and 0.39% respectively, on the back of buy interest recorded in the shares of Intbrew (9.08%) and NB (2.86%); Oando (4.91%); Lasaco (10.00%) and Custodian (1.01%). Conversely, Banking index declined by 0.46% on the back of selloffs recorded in the shares of UBA (-0.75%) and Guaranty (-0.59%). However, Industrial index closed flat.
Market synopsis for the week
The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in four of the five trading sessions. The market recorded losses on the first trading day of the week (-0.27%) and recorded gains on the second, third, fourth and last trading days of the week (0.02% 0.14%, 0.13% and 0.07% respectively), due to buy interest in large and mid-cap stocks across Consumer Goods, Oil and Gas and Insurance sectors. Overall, ASI advanced by 0.09% week-on-week, while the year-to-date returns settled at -6.04%.
Please find attached our Daily Financial Market update for today, August 21, 2020.
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