Daily Financial Market Report for February 26, 2021

Equities market closes Bearish…ASI Loses 74 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 0.74% to close at 39,799.89. Similarly, Market Capitalization decreased by N154 billion to close at N20.82 trillion while the Year-to-Date (YtD) returns settled at -1.17%.

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 2.32%, 0.48%, 0.40% and 0.19% respectively, on the back of sell pressures recorded in the shares of WEMA (-10.00%), AFRIPRUD (-5.74%), MANSARD (-5.36%), MTNN (-3.28%), WAPCO (-2.94%), ZENITH (-1.55%), TRANSCORP (-1.09%), UBA (-0.61%), DANGSUGAR (-0.55%) and GUARANTY (-0.16%) among others. However, Oil and gas advanced on the back of buy interests recorded in the shares of OANDO (2.99%).

NASD Market

The NASD market remained unchanged after today’s trading activities as the Unlisted Securities Index (USI) closed at 713.91. Consequently, Market Capitalization also closed unchanged at N512.24 billion. Market activity measured by aggregate volume decreased by 15.57% while value decreased by 51.47%. Investors traded a total of 4,220 units of shares valued at N321,600 in 6 deals. 

Please find here our Daily Financial Market update for today, February 26th, 2021.