Daily Financial Market Report for September 08, 2020

Daily Financial Market Report for September 08, 2020

Dear Client/Reader,

Bears Gain Momentum on Local Bourse…ASI Loses 33 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 0.33% to close at 25,497.32. Market Capitalization shed N44.30 billion to close at N13.30 trillion while the Year-to-Date (YtD) returns settled at -5.01%.

Sectors performance significantly bullish

Performance across sectors was significantly bullish as one sector closed in the red zone. Consumer Goods and Insurance indices advanced by 0.43% and 0.26% respectively, on the back of gains recorded in the shares of Honyflour (4.44%) and NB (2.50%); Wapic (3.03%). Similarly, Oil and Gas and Industrial indices advanced by 0.19% and 0.01% respectively, on the back of buy interest recorded in the shares of CAP (2.65%). Conversely, Banking index declined by 3.42% on the back of losses recorded in the shares of Guaranty (-6.18%) and Zenithbank (-2.31%).

NASD Market

The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 69 basis points to close at 720.54. Consequently, Market Capitalization also declined by 0.68% to close at N529.29 billion. Market activity measured by aggregate volume increased by 478.97% while value declined by 65.69%. Investors traded a total of 239,660 units of shares valued at N3.91 million in 18 deals. Four securities traded on the NASD platform today and they are: CSCS Plc, NDEP Plc, WAMCO Plc and NIPCO Plc.

Please find attached our Daily Financial Market update for today, September 08, 2020.

Thank you.

Click here for the daily financial market report.

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