Daily Financial Market Report for March 16, 2021

Equities market continues week on a Bullish note…ASI Gains 41 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 0.41% to close at 38,720.81. Similarly, Market Capitalization increased by N83 billion to close at N20.26 trillion while the Year-to-Date (YtD) returns settled at -3.85%.

Sectors performance was Broadly Bullish

Performance across sectors was broadly bullish as 2 out of the 5 sectors closed in the green zone. Consumer goods and Industrial indices advanced by 0.23% and 1.70% respectively, on the back of buy interests recorded in the shares of REGALINS (10.00%), JAIZBANK (9.68%), GUINNESS (6.52%), UAC-PROP (3.95%), DANGCEM (3.55%), GLAXOSMITH (2.42%), MTNN (1.20%), AIICO (0.83%), STRELING (0.64%) and LIVESTOCK (0.55%) among others. However, Insurance and Banking indices declined on the back of sell pressures recorded in the shares of GUARANTY (-4.51%), ZENITH (-4.25%), FBNH (-2.72%), MBENEFIT (-2.56%), UCAP (-2.39), UBA (-2.08), FCMB (-1.38) and MANSARD (-1.00%). Oil and Gas Index remained unchanged.

NASD Market

The NASD market remained unchanged after today’s trading activities as the Unlisted Securities Index (USI) closed at 700.23. Consequently, Market Capitalization also remained unchanged to close at N502.42 billion. Market activity measured by aggregate volume decreased by 99.95% while value decreased by 99.98%. Investors traded a total of 1,000 units of shares valued at N6,000 in 1 deal. 

Please find here our Daily Financial Market update for today, March 16th, 2021.