Daily Financial Market Report for March 18, 2021

Daily Financial Market Report for March 18, 2021

Equities market continues week on a Bullish note…ASI Gains 54 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 0.54% to close at 38,914.84. Similarly, Market Capitalization increased by N109 billion to close at N20.36 trillion while the Year-to-Date (YtD) returns settled at -3.37%.

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 Oil and gas indices declined by 0.78%, 0.24% and 0.13% respectively, on the back of sell pressures recorded in the shares of WAPIC (-9.09%), ABCTRANS (-6.67%), STERLING (-6.37%), HONYFLOUR (-5.60%), IKEJAHOT (-4.76%), JAIZ (-4.41%), OANDO (-3.04%), UNITY (-2.78%), TRANSCORP (-2.44%) and CHELLARAMS (-0.88%) among others. However, Banking and Industrial indices advanced on the back of buy interests recorded in the shares of ZENITH (7.07%), GUARANTY (6.43%), DANGSUGAR (6.25%), UCAP (4.40%), FIDELITY (4.11%), WAPCO (2.73%), VITAFOAM (2.72%), UBA (1.43%), ACCESS (0.64%) and FCMB (0.35%)

NASD Market

The NASD market closed negative after today’s trading activities as the Unlisted Securities Index (USI) decreased by 0.46% to close at 703.57. Consequently, Market Capitalization also closed negative at N500.10 billion. Market activity measured by aggregate volume increased by 956.30% while value decreased by 81.87%. Investors traded a total of 10,563 units of shares valued at N153, 691.21 in 1 deal. 

Please find here our Daily Financial Market update for today, March 18th, 2021.

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