Daily Financial Market Report for September 04, 2020

Dear Client/Reader,

Equity Market Closes Week Bullish…ASI Gains 37 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 0.37% to close at 25,605.64. Market Capitalization gained N49.36 billion to close at N13.36 trillion while the Year-to-Date (YtD) returns settled at -4.61%.

Sectors performance significantly bullish

Performance across sectors was significantly bullish as all sectors closed in the green zone. Insurance, Oil and Gas and Banking indices advanced by 2.37%, 1.83% and 1.60% respectively, on the back of buy interest recorded in the shares of Lawunion (9.71%) and Mansard (9.58%); Seplat (3.90%); Guaranty (3.31%) and Zenithbank (1.16%). Similarly, Consumer Goods and Industrial indices advanced by 0.06% and 0.01% respectively, on the back of bargain hunting recorded in the shares of Guinness (3.21%); Vitafoam (3.29%).

Market synopsis for the week

The stock market closed positive this week. The nation’s bourse had bullish performance as it closed positive in all five trading sessions. The market recorded gains all trading days of the week (0.07%, 0.34%, 0.18%, 0.20% and 0.37% respectively), due to buy interest in large and mid-cap stocks across Insurance, Oil and Gas and Banking sectors. Overall, ASI advanced by 1.17% week-on-week, while the year-to-date returns settled at -4.61%.

Please find attached our Daily Financial Market update for today, September 04, 2020.

Thank you.

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