Daily Financial Market Report for October 8, 2020

Daily Financial Market Report for October 8, 2020

Dear Client/Reader,

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%).

NASD Market

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.

Thank you.

Click here for our Daily Financial Market update.

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