Daily Financial Market Report for September 15, 2020Yahya Abdulrahman
Bears Regain Dominance on Local Bourse…ASI Loses 3 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 0.03% to close at 25,597.96. Market Capitalization shed N3.97 billion to close at N13.35 trillion while the Year-to-Date (YtD) returns settled at -4.63%.
Sectors performance broadly bearish
Performance across sectors was broadly bearish as two sectors closed in the green zone. Oil and Gas, Banking, and Consumer Goods indices declined by 1.16%, 0.18% and 0.10% respectively, on the back of selloffs recorded in the shares of Oando (-5.46%) and Seplat (-1.28%); UBA (-0.81%) and Zenithbank (-0.29%); Dangsugar (-1.24%). Conversely, Insurance and Industrial indices advanced by 0.35% and 0.21% respectively, on the back of buy interest recorded in the shares of Cornerst (6.45%); Wapco (3.45%).
The NASD market closed bullish after today’s trading activities as the Unlisted Securities Index (USI) advanced by 115 basis points to close at 727.12. Consequently, Market Capitalization also increased by 1.15% to close at N534.12 billion. Market activity measured by aggregate volume increased by 3,628.84% while value advanced by 5,367.26%. Investors traded a total of 1.02 million units of shares valued at N74.13 million in 11 deals. Six securities traded on the NASD platform today and they are: NIPCO Plc, WAMCO Plc, Food Concept Plc, Afriland Properties Plc, VFD Group Plc and NDEP Plc.
Please find attached our Daily Financial Market update for today, September 15, 2020.
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