Daily Financial Market Report for August 24, 2020Yahya Abdulrahman
Bulls Edge Bears on Local Bourse…ASI Gains Marginally by 3 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 0.03% to close at 25,229.12. Market Capitalization gained N3.78 billion to close at N13.16 trillion while the Year-to-Date (YtD) returns settled at -6.01%.
Sectors performance mixed
Performance across sectors was mixed as two sectors closed in the red and green zones. Industrial and Banking indices declined by 0.10% and 0.01% respectively, on the back of selloffs recorded in the shares of Wapco (-1.71%); Fidelitybk (-1.67%) and UBA (-1.52%). Conversely, Insurance and Consumer Goods indices advanced by 0.82% and 0.70% respectively, on the back of buy interest recorded in the shares of Regalins (9.09%) and Cornerst (8.62%); Intbrew (-4.17%) and Guinness (-1.32%). However, Oil and Gas Index closed flat.
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 28 basis points to close at 711.15. Consequently, Market Capitalization also increased by 0.28% to close at N522.39 billion. Market activity measured by aggregate volume decreased by 98.83% while value declined by 94.74%. Investors traded a total of 8,632 units of shares valued at N803,598.68 in 5 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, CSCS Plc and NDEP Plc.
Please find attached our Daily Financial Market update for today, August 24, 2020.
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