Daily Financial Market Report for March 08, 2021

Equities market closes Bullish…ASI Gains 17 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 0.17% to close at 39,396.57. Similarly, Market Capitalization increased by N34 billion to close at N20.61 trillion while the Year-to-Date (YtD) returns settled at -2.17%.

Sectors performance was Broadly Bullish

Performance across sectors was broadly bullish as 3 out of the 5 sectors closed in the green zone. Insurance, Oil and gas and Industrial indices advanced by 1.26%, 1.01% and 0.47% respectively, on the back of buy interests recorded in the shares of ARDOVA (10.00%), OANDO (9.09%), WEMA (9.09%), WAPCO (8.11%), SOVRENINS (4.00%), TRANSCORP (3.70%), AIICO (3.45%), JAPAUL (2.04%), STERLING (2.04%) and ACCESS (1.28%) among others. However, Banking and Consumer goods indices declined on the back of sell pressures recorded in the shares of LIVESTOCK (-9.87%), UCAP (-4.38%), FIDELITY (-4.35%), CADBURY (-3.61%), AFRIPRUD (-3.36%), INTBREW (-1.80%), ZENITH (-1.58%) and GUARANTY (-0.65%). 

NASD Market

The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 1.88% to close at 710.44. Consequently, Market Capitalization also closed positive at N509.75billion. Market activity measured by aggregate volume decreased by 36.01% while value decreased by 30.88%. Investors traded a total of 75,500 units of shares valued at N9.82 mn in 1 deal. 

Please find here our Daily Financial Market update for today, March 8th, 2021.