Daily Financial Market Report for September 01, 2020Yahya Abdulrahman
Equity Market Sustains Bullish Momentum…ASI Gains 34 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 0.34% to close at 25,413.95. 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 bullish
Performance across sectors was broadly bullish as one sector closed in the red zone. Banking, Consumer Goods and Insurance indices advanced by 1.07%, 0.88% and 0.65% respectively, on the back of buy interest recorded in the shares of UBA (4.40%) and Access (3.23%); NB (5.41%); Cornerst (7.14%) and Aiico (5.56%). Conversely, Industrial index declined by 0.12% on the back of selloffs recorded in the shares of Dangcem (-0.67%). 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 24 basis points to close at 709.45. Consequently, Market Capitalization also decreased by 0.24% to close at N521.14 billion. Market activity measured by aggregate volume increased by 558.11% while value advanced by 159.95%. Investors traded a total of 49,753 units of shares valued at N2.38 million in 7 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, Afriland Properties Plc and CSCS Plc.
Please find attached our Daily Financial Market update for today, September 01, 2020.
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