Daily Financial Market Report for September 14, 2020Yahya Abdulrahman
Equity Market Resumes New Week Bullish…ASI Gains 5 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 0.05% to close at 25,605.59. Market Capitalization gained N7.11 billion to close at N13.36 trillion while the Year-to-Date (YtD) returns settled at -4.61%.
Sectors performance broadly bearish
Performance across sectors was broadly bearish as two sectors closed in the green zone. Consumer Goods, Oil and Gas and Insurance indices declined by 0.50%, 0.08% and 0.07% respectively, on the back of selloffs recorded in the shares of Guinness (-8.57%) and Intbrew (-0.37%); Oando (-0.83%); Cornerst (-4.62%). Conversely, Industrial and Banking indices advanced by 0.51% and 0.15% respectively, on the back of buy interest recorded in the shares of Wapco (1.95%) and Dangcem (0.75%); Guaranty (0.40%) and Zenithbank (0.29%).
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 89 basis points to close at 718.87. Consequently, Market Capitalization also increased by 0.89% to close at N528.06 billion. Market activity measured by aggregate volume decreased by 74.12% while value declined by 21.75%. Investors traded a total of 27,450 units of shares valued at N1.36 million in 5 deals. Two securities traded on the NASD platform today and they are: CSCS Plc and NDEP Plc.
Please find attached our Daily Financial Market update for today, September 14, 2020.
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