Daily Financial Market Report for February 10, 2021

Equities market continues Negative Trend…ASI Loses 196 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 1.96% to close at 40,696.01. Similarly, Market Capitalization decreased by N425 billion to close at N21.29 trillion while the Year-to-Date (YtD) returns settled at 1.06%.

Sectors performance was Significantly Bearish

Performance across sectors was significantly bearish as 4 out of the 5 sectors closed in the red zone. Insurance, Banking, Consumer goods and Industrial indices declined by 1.15%, 3.36%, 0.38% and 0.70% respectively, on the back of sell pressures recorded in the shares of CAP (-10.00%), DANGCEM (-7.39%), UBA (-5.75%), WAPCO (-4.87%), UCAP (-3.71), ACCESS (-2.35%), ZENITH (-1.94%), FBNH (-1.36%), GUARANTY (-1.22%) and MTNN (-0.56%) among others. While Oil and gas index advanced on the back of buy interests in the shares of OANDO (0.67%).

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) declined by 0.41% to close at 739.61. Consequently, Market Capitalization also declined by 0.41% to close at N530.68 billion. Market activity measured by aggregate volume increased by 1298.43% while value increased by 1707.46%. Investors traded a total of 677,540 units of shares valued at N65.57 mn in 10 deals.

Please find here our Daily Financial Market update for today, February 10th, 2021.