Daily Financial Market Report for March 02, 2021

Equities market closes Bearish…ASI Loses 59 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 0.59% to close at 39,697.62. Similarly, Market Capitalization decreased by N122 billion to close at N20.77 trillion while the Year-to-Date (YtD) returns settled at -1.42%.

Sectors performance was Significantly Bearish

Performance across sectors was significantly bearish as 4 out of the 5 sectors closed in the red zone. Banking, Consumer goods, Oil and gas and Industrial indices declined by 0.12%, 3.86%, 0.88% and 0.41% respectively, on the back of sell pressures recorded in the shares of ARDOVA (-9.97%), WAPCO (-7.08%), NESTLE (-6.90%), FLOURMILL (-6.41%), FIDELITY (-3.29%), UACN (-3.13%), UBA (-2.40%), UCAP (-1.64%), ZENITH (-0.39%) and NASCON (-0.35%) among others. However, Insurance index advanced on the back of buy interests recorded in the shares of REGALINS (7.69%), PRESTIGE (6.98%), NEM (6.00%), and WAPIC (1.96%).

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 1.73% to close at 696.13. Consequently, Market Capitalization also closed negative at N499.48 billion. Market activity measured by aggregate volume decreased by 79,56% while value decreased by 91.33%. Investors traded a total of 77,320 units of shares valued at N3.81 mn in 6 deals.

Please find here our Daily Financial Market update for today, March 2nd, 2021.