Daily Financial Market Report for November 17, 2020

Daily Financial Market Report for November 17, 2020

Dear Client/Reader,

Bearish Run Continues in the Equities Market …ASI Loses 153 Basis Point

The Nigerian Stock Exchange (NSE) closed negative as bears dominated proceedings in the market today. The benchmark All Share Index (ASI) depreciated by 1.53% to close at 34,242.83. Similarly, Market Capitalization decreased by N278 billion to close at N17.89 trillion while the Year-to-Date (YtD) returns settled at 27.57%.

Sectors performance was significantly bearish

Performance across sectors was significantly bearish as 4 out of the 5 sectors closed in the red zone. Insurance, Industrial, Consumer Goods and Oil and Gas indices declined by -0.49%, -3.33%, -3.21% and -0.87% respectively, on the back of sell interests recorded in the shares of Oando (-10.00%), WAPIC (-10.00%), CADBURY (-9.85%), NB (-6.90%), INTBREW (-6.57%), DANGCEM (-6.45%), STERLING (-3.55%), NESTLE (-3.45%), GUINNESS (-2.26%) and FLOURMILL (-0.18%) among others. While Banking indices closed in the green zone on the back of buy interests in the shares of GUARANTY (2.78%), FIDELITY (2.30%), UBN (1.75%) and FBNH (0.66%).

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) closed positive to close at 735.99. Consequently, Market Capitalization also increased by 0.91% to close at N547.06 billion. Market activity measured by aggregate volume decreased by 94.25% while value decreased by 57.65%. Investors traded a total of 403,930 units of shares valued at N5.86 mn in 2 deals.

Please click here to view our Daily Financial Market update for today, November 17th , 2020.

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