Daily Financial Market Report for October 8, 2020Yahya Abdulrahman
Bearish run persists…ASI waned by 31 Basis Points
The Nigerian Stock Exchange (NSE) closed bearish as the benchmark All Share Index (ASI) waned by 0.31% from 28,634.35 to close at 28,546.22. Market Capitalization decreased by N46 billion to close at N14.92 trillion while the Year-to-Date (YtD) closed at 6.35% from 6.68%.
Sectors performance was broadly bearish
Performance across sectors was broadly bearish. Three out of the five sectors on the NSE closed in the red zone today;, Industrial, Consumer Goods and Oil and Gas indices decreased by -2.72%, -1.30% and -0.53% respectively, owing to sell interests recorded in the shares of Buacement (-0.84%) and Dangcem (-4.75%); NB (-7.07 %); Oando (-2.55%) and Conoil (-5.57%) amongst others. However, the Banking (2.88%) and Insurance (1.29%) indices closed in the green zone due to buy interests in Access (4.64%) and Zenith (2.81%); Mansard (7.18%) and Wapic (5.56%).
The NASD market was bearish after today’s trading activities as the Unlisted Securities Index (USI) declined by 0.33% to close at 724.53. Consequently, Market Capitalization decreased by 0.33% to close at N532.22 billion. Market activity measured by aggregate volume decreased by 94.37%, while value fell by 95.82%. Investors traded a total of 41,240 units of shares valued at N3,219,740.00 in 11 deals. Two securities traded on the USI today, namely; Wamco Plc and CSCS Plc.
Please find attached our Daily Financial Market update for today, October 8th, 2020.
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