Daily Financial Market Report for February 24, 2021

Equities market closes Bullish…ASI Gains 14 Basis Point

The Nigerian Stock Exchange (NSE) closed positive as bulls dominated proceedings in the market today. The benchmark All Share Index (ASI) appreciated by 0.14% to close at 40,221.30. Similarly, Market Capitalization increased by N29 billion to close at N21.04 trillion while the Year-to-Date (YtD) returns settled at -0.12%.

Sectors performance was Significantly Bullish

Performance across sectors was significantly bullish as 3 out of the 5 sectors closed in the green zone. Banking, Oil and gas and Industrial indices advanced by 0.77%,  0.79% and 0.22% respectively, on the back of buy interests recorded in the shares of OANDO (10.00%), WAPCO (4.13%), AFRIPRUD (2.52%), ACCESS (1.80%), UBA (1.18%), DANGSUGAR (1.11%), TRANSCORP (1.09%), GUARANTY (0.98%), ZENITH (0.77%) and FBNH (0.68%) among others. However, Insurance and Consumer goods declined on the back of sell pressure recorded in the shares of LASACO (-9.49%), CHIPLC (-8.33%), CORNERST (-7.81%), FLOURMILL (-6.94%), WAPIC (-6.90%), MBENEFIT (-2.50%), MANSARD (-1.77%) and AIICO (1.67%). 

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 0.94% to close at 713.91. Consequently, Market Capitalization also closed positive at N512.24 billion. Market activity measured by aggregate volume decreased by 82.45% while value decreased by 46.94%. Investors traded a total of 41,100 units of shares valued at N4.29mn in 4 deals. 

Please find here our Daily Financial Market update for today, February 24th, 2021.