Daily Financial Market Report for August 31, 2020Yahya Abdulrahman
Equity Market Closes Positive…ASI Gains Marginally by 7 Basis Points
The Nigerian Stock Exchange (NSE) saw mixed sentiment with the bulls marginally edging the bears today. The benchmark All Share Index (ASI) appreciated by 0.07% to close at 25,327.13. Market Capitalization gained N9.26 billion to close at N13.21 trillion while the Year-to-Date (YtD) returns settled at -5.64%.
Sectors performance broadly bearish
Performance across sectors was broadly bearish as two sectors closed in the green zone. Banking, Insurance and Consumer Goods indices declined by 0.74%, 0.61% and 0.01% respectively, on the back of selloffs recorded in the shares of Access (-3.13%) and UBA (-1.57%); Mbenefit (-4.76%) and NEM (-3.72%); NB (-2.78%). Conversely, Oil and Gas and Industrial indices advanced by 1.99% and 0.55% respectively, on the back of buy interest recorded in the shares of Mobil (10.00%); Wapco (3.46%) and Buacement (0.25%).
The NASD market closed flat after today’s trading activities as the Unlisted Securities settled at 711.15. Consequently, Market Capitalization remained unchanged as it closed at N522.39 billion. Market activity measured by aggregate volume decreased by 45.28% while value advanced by 41.74%. Investors traded a total of 7,560 units of shares valued at N916,689.20 in 7 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, NDEP Plc and CSCS Plc.
Please find attached our Daily Financial Market update for today, August 31, 2020.
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