Daily Financial Market Report for February 08, 2021

Equities market sustains Negative Trend…ASI Loses 35 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 0.35% to close at 41,564.31. Similarly, Market Capitalization decreased by N74 billion to close at N21.74 trillion while the Year-to-Date (YtD) returns settled at 3.21%.

Sectors performance was Significantly Bearish

Performance across sectors was significantly bearish as 4 out of 5 sectors closed in the red zone. Insurance, Banking, Oil and gas and Consumer goods indices declined by 0.84%, 2.68%, 0.01 and 0.26% respectively, on the back of sell pressures recorded in the shares of CHAMPION (-9.75%), GUARANTY (-8.75%), MAYBAKER (-5.10%), UCAP (-3.31%), UNILEVER (-2.05), FLOURMILL (-1.43%), ETERNA (-0.87%), CUSTODIAN (-0.83%), UACN (-0.61%), and DANGSUGAR (-0.25%) among others. While Industrial  sector closed in the green zone due to buy interests in the shares of TRANSCORP (2.00%) and WAPCO (0.75%).

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) advanced by 2.04% to close at 740.12. Consequently, Market Capitalization also advanced by 2.04% to close at N531.05 billion. Market activity measured by aggregate volume increased by 145.02% while value increased by 469.57%. Investors traded a total of 46,726 units of shares valued at N6.09 mn in 5 deals. 

Please find here our Daily Financial Market update for today, February 8th, 2021.