Daily Financial Market Report for March 03, 2021

Equities market closes Bearish…ASI Loses 44 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 0.44% to close at 39,522.06. Similarly, Market Capitalization decreased by N92 billion to close at N20.68 trillion while the Year-to-Date (YtD) returns settled at -1.86%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Insurance, Consumer goods and Industrial indices declined by 0.86%, 0.45% and 0.41% respectively, on the back of sell pressures recorded in the shares of JAPAUL (-10.00%), PRESTIGE (-8.70%), WAPCO (-4.76%), TRANSCORP (-4.49%), UCAP (-3.87%), MTNN (-2.30%), FIDELITY (-2.13%), DANGSUGAR (-1.40%), ACCESS (-0.62%) and ZENITH (-0.39%) among others. However, Oil and Gas index advanced on the back of buy interests recorded in the shares of AIICO (5.22%). Banking Index remained unchanged.

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.10% to close at 695.45. Consequently, Market Capitalization also closed negative at N498.99 billion. Market activity measured by aggregate volume decreased by 73.34% while value decreased by 39.66%. Investors traded a total of 20,614 units of shares valued at N2.30 mn in 6 deals. 

Please find here our Daily Financial Market update for today, March 3rd, 2021.