Daily Financial Market Report for March 17, 2021

Daily Financial Market Report for March 17, 2021

Equities market continues week on a Bearish note…ASI Loses 4 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 0.04% to close at 38,706.13. Similarly, Market Capitalization decreased by N7 billion to close at N20.25 trillion while the Year-to-Date (YtD) returns settled at -3.89%.

Sectors performance was Broadly Bearish

Performance across sectors was broadly bearish as 3 out of the 5 sectors closed in the red zone. Banking and Consumer goods indices declined by 1.03%, 0.42% and 0.02% respectively, on the back of sell pressures recorded in the shares of VITAFOAM (-5.16%), MANSARD (-5.05%), NEM (-4.57%), NAHCO (-4.55%), JAPAUL (-2.08%), FIDELITY (-1.79%), GUARANTY (-1.75%), WEMA (-1.67%), FBNH (-1.37%) and FCMB (-0.35%)  among others. However, Oil and Gas index advanced on the back of buy interests recorded in the shares of OANDO (9.67%) and SEPLAT (0.92%). Industrial Index remained unchanged.

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.45% to close at 703.67. Consequently, Market Capitalization also closed negative at N500.17 billion. Market activity measured by aggregate volume increased by 956.30% while value increased by 2461.53%. Investors traded a total of 10,563 units of shares valued at N153,691 in 1 deals. 

Please find here our Daily Financial Market update for today, March 17th, 2021.

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