Daily Financial Market Report for August 27, 2020

Dear Client/Reader,

Bears Regain Dominance on Local Bourse…ASI Loses 10 Basis Points

The Nigerian Stock Exchange (NSE) retracts as the bears dominated proceedings in the market today. The benchmark All Share Index (ASI) waned by 0.10% to close at 25,304.25. Market Capitalization shed N13.48 billion to close at N13.20 trillion while the Year-to-Date (YtD) returns settled at -5.73%.

Sectors performance mixed

Performance across sectors was mixed as two sectors closed in the red and green zones. Industrial and Banking indices declined by 0.37% and 0.33% respectively, on the back of selloffs recorded in the shares of Wapco (-1.28%) and Dangcem (-0.59%); Access (-2.34%) and UBA (-0.78%). Conversely, Insurance and Consumer Goods indices advanced by 0.64% and 0.52% respectively, on the back of buy interest recorded in the shares of Mansard (6.36%); NB (-2.78%) and Guinness (-0.65%). However, Oil and Gas Index closed flat.

NASD Market

The NASD market closed flat after today’s trading activities as the Unlisted Securities settled at 711.96. Consequently, Market Capitalization remained unchanged as it closed at N522.99 billion. Market activity measured by aggregate volume increased by 740% while value advanced by 1,062%. Investors traded a total of 21,000 units of shares valued at N407,000 in 2 deals. Two securities traded on the NASD platform today and they are: CSCS Plc and WAMCO Plc.

Please find attached our Daily Financial Market update for today, August 27, 2020.

Thank you.

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