Daily Financial Market Report for September 07, 2020

Dear Client/Reader,

Bears Claw Back on Local Bourse…ASI Loses 9 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 0.09% to close at 25,582.23. Market Capitalization shed N12.22 billion to close at N13.35 trillion while the Year-to-Date (YtD) returns settled at -4.69%.

Sectors performance broadly bullish

Performance across sectors was broadly bullish as two sectors closed in the red zone. Insurance, Oil and Gas and Industrial indices advanced by 0.69%, 0.19% and 0.03% respectively, on the back of buy interest recorded in the shares of NEM (8.70%) and Custodian (2.11%); Eterna (9.13%) and Oando (2.22%); Wapco (0.42%). Conversely, Banking and Consumer Goods indices declined by 0.70% and 0.36% respectively, on the back of selloffs recorded in the shares of Guaranty (-2.45%) and UBA (-2.33%); Dangsugar (-3.60%) and Guinness (-0.35%).

NASD Market

The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 158 basis points to close at 725.51. Consequently, Market Capitalization also increased by 1.58% to close at N532.94 billion. Market activity measured by aggregate volume increased by 830.20% while value advanced by 872.29%. Investors traded a total of 41,394 units of shares valued at N11.41 million in 6 deals. Three securities traded on the NASD platform today and they are: WAMCO Plc, Afriland Properties Plc and NDEP Plc.

Please find attached our Daily Financial Market update for today, September 07, 2020.

Thank you.

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