Daily Financial Market Report for March 01, 2021

Equities market starts new month on a Bullish note…ASI Gains 33 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 0.33% to close at 39,931.63. Similarly, Market Capitalization increased by N69 billion to close at N20.89 trillion while the Year-to-Date (YtD) returns settled at -0.84%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Insurance, Oil and gas and Consumer goods indices declined by 1.10%, 0.10 and 1.48% respectively, on the back of sell pressure recorded in the shares of PZ (-9.43%), LASACO (-8.94%), SOVERNINS (-7.41%), REGALINS (-7.14%), PRESTIGE (-6.52%), JAPAUL (-5.80%), WAPIC (-5.56%), MANSARD (-1.71%), OANDO (-1.16%) and DANGSUGAR (-0.83%) among others. However, Banking and Industrial sectors advanced on the back of buy interests recorded in the shares of BUACEM (3.82%), UBA (1.84%), WEMA (1.59%), ZENITH (1.38%) and ETI (0.96%)..

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.77% to close at 708.39. Consequently, Market Capitalization also closed negative at N508.28 billion. Market activity measured by aggregate volume increased by 17,827.73% while value increased by 27,252.92%. Investors traded a total of 756,550 units of shares valued at N87.97 mn in 18 deals. 

Please find here our Daily Financial Market update for today, March 1st, 2021.