Daily Financial Market Report for September 16, 2020

Daily Financial Market Report for September 16, 2020

Dear Client/Reader,

Bearish Run Persists…ASI Loses 19 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 0.19% to close at 25,550.31. Market Capitalization shed N1.16 billion to close at N13.35 trillion while the Year-to-Date (YtD) returns settled at -4.81%.

Sectors performance broadly bearish

Performance across sectors was broadly bearish as two sectors closed in the green zone. Insurance, Banking, and Industrial indices declined by 1.49%, 0.58% and 0.23% respectively, on the back of selloffs recorded in the shares of Nem (-9.78%); Access (-1.49%) and Zenithbank (-1.16%); Wapco (-3.70%). Conversely, Oil and Gas and Consumer Goods indices advanced by 0.41% and 0.07% respectively, on the back of buy interest recorded in the shares of Oando (4.44%) and Ardova (0.44%); NB (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 722.13. Consequently, Market Capitalization also decreased by 0.69% to close at N530.45 billion. Market activity measured by aggregate volume decreased by 20.65% while value declined by 89.02%. Investors traded a total of 812,166 units of shares valued at N8.17 million in 9 deals. Four securities traded on the NASD platform today and they are: CSCS Plc, Afriland Properties Plc, WAMCO Plc and NDEP Plc. 

Please find attached our Daily Financial Market update for today, September 16, 2020.

Thank you.

Click here for the daily market report.

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