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