Daily Financial Market Report for February 16, 2021

Equities market continues Trading week on a Negative Note…ASI Loses 19 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 0.19% to close at 40,494.35. Similarly, Market Capitalization decreased by N41 billion to close at N21.18 trillion while the Year-to-Date (YtD) returns settled at 0.56%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Insurance, Banking and Consumer goods indices declined by 1.54%, 0.31% and 0.52% respectively, on the back of sell pressure recorded in the shares of CHIPLC (-10.00%), WAPIC (-8.33%), LINKASSU (-5.08%), STANBIC (-4.44%), NB (-3.28%), NASCON (-0.93%), FBNH (-0.68%), ZENITH (-0.60%), ACCESS (-0.59%) and UBA (-0.58%) among others. While Oil and gas and Industrial indices advanced on the back of buy interests in the shares ofARDOVA (5.74%), CAP (5.56%), OANDO (3.45%) and SEPLAT (0.83%).

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.24% to close at 740.34. Consequently, Market Capitalization also closed positive at N531.20 billion. Market activity measured by aggregate volume increased by 538.37% while value increased by 19.04%. Investors traded a total of 635,707 units of shares valued at N8.91mn in 8 deals. 

Please find here our Daily Financial Market update for today, February 16th, 2021.