Daily Financial Market Report for February 22, 2021

Equities market resumes new trading week on a Negative Note…ASI Loses 8 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 0.08% to close at 40,154.09. Similarly, Market Capitalization decreased by N17 billion to close at N21.01 trillion while the Year-to-Date (YtD) returns settled at -0.29%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Insurance, Consumer goods and Industrial indices declined by 0.13%, 0.08% and 0.55% respectively, on the back of sell pressure recorded in the shares of AFRIPRUD (-9.59%), WAPCO (-8.00%), LIVESTOCK (-6.25%), UCAP (-5.51%), MAYBAKER (-5.01%), FIDELITY (-3.23%), UNILEVER (-2.51%), STERLING (-1.67%), UACN (-0.62%) and ACCESS (-0.60%) among others. However, Banking and Oil and gas advanced on the back of buy interests recorded in the shares of STANBIC (3.36%), FCMB (2.58%), JAIZ (1.54%), WEMA (1.49%), UBA (1.20%), OANDO (0.98%), ZENITH (0.40%) and GUARANTY (0.33%).

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.93% to close at 717.43. Consequently, Market Capitalization also closed negative at N514.76 billion. Market activity measured by aggregate volume increased by 67.58% while value increased by 15.64%. Investors traded a total of 1,110,750 units of shares valued at N29.44 mn in 10 deals. 

Please find here our Daily Financial Market update for today, February 22nd, 2021.