Daily Financial Market Report for February 23, 2021

Equities market closes flat…ASI Gains 3 Basis Point

The Nigerian Stock Exchange (NSE) closed flat as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated marginally by 0.03% to close at 40,164.86. Similarly, Market Capitalization increased by N5 billion to close at N21.01 trillion while the Year-to-Date (YtD) returns settled at -0.26%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 2 out of the 5 sectors closed in the red zone. Insurance and Consumer goods indices declined by 0.92% and 1.61% respectively, on the back of sell pressure recorded in the shares of AFRIPRUD (-9.87%), MAYBAKER (-8.79%), NB (-8.47%), MBENEFIT (-4.76%), TRANSCORP (-4.26%), FIDELITY (-3.75%), DANGSUGAR (-2.70%), MANSARD (-1.71%), PZ (-0.93%) and ACCESS (-0.60%) among others. However, Banking advanced on the back of buy interests recorded in the shares of ZENITH (4.03%), UNITY (1.52%), UBA (1.19%) and GUARANTY (0.16%). Industrial and Oil and gas sectors remained unchanged.

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.94% to close at 710.72. Consequently, Market Capitalization also closed negative at N509.95 billion. Market activity measured by aggregate volume decreased by 92.28% while value decreased by 37.99%. Investors traded a total of 85,800 units of shares valued at N18.26 mn in 11 deals.

Please find here our Daily Financial Market update for today, February 23rd, 2021.