Daily Financial Market Report for September 10, 2020Yahya Abdulrahman
Bulls Regain Dominance on Local Bourse…ASI Gains 38 Basis Points
The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.38% to close at 25,520.97. Market Capitalization gained N50.12 billion to close at N13.31 trillion while the Year-to-Date (YtD) returns settled at -4.92%.
Sectors performance broadly bullish
Performance across sectors was broadly bullish as two sectors closed in the red zone. Banking, Consumer Goods and Industrial indices advanced by 2.28%, 0.08% and 0.02% respectively, on the back of buy interest recorded in the shares of Access (3.85%) and Zenithbank (3.35%); NB (0.12%); Wapco (0.41%). Conversely, Insurance and Oil and Gas indices declined by 1.66% and 1.28% respectively, on the back of selloffs recorded in the shares of Custodian (-3.03%) and Mansard (-1.64%); Seplat (-2.50%).
The NASD market closed bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 104 basis points to close at 714.44. Consequently, Market Capitalization also decreased by 1.04% to close at N524.81 billion. Market activity measured by aggregate volume increased by 8.87% while value declined by 48.42%. Investors traded a total of 132,000 units of shares valued at N1.83 million in 3 deals. One security traded on the NASD platform today and it was: CSCS Plc.
Please find attached our Daily Financial Market update for today, September 10, 2020.
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