Daily Financial Market Report for March 30, 2021Yahya Abdulrahman
Equities market closes on a Negative note…ASI Loses 57 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 0.57% to close at 39,267.11. Similarly, Market Capitalization decreased by N118 billion to close at N20.54 trillion while the Year-to-Date (YtD) returns settled at -2.49%.
Sectors performance was Broadly Bearish
Performance across sectors was broadly bearish as 2 out of the 5 sectors closed in the red zone. Insurance and Industrial indices declined by 0.16% and 1.90% respectively, on the back of sell pressures recorded in the shares of ETI (-4.72%), SOVRENINS (-4.17%), DANGCEM (-4.02%), FIDELITY (-2.92%), JBERGER (-2.68%), TRANSCORP (-2.50%), JAPAUL (-2.22%), JAIZ (-1.56%), INTBREW (-0.87%) and DANGSUGAR (-0.61%) among others. However, Banking and Consumer goods indices advanced by 0.94% and 0.07% respectively, on the back of buy interests recorded in the shares of LIVESTOCK (9.66%), UBA (4.35%), UACN (3.45%), ZENITH (2.95%), CHAMPION (2.27%), CADBURY (1.85%), STERLING (1.80%), STANBIC (0.91%) and GUARANTY (0.15%). Oil and Gas index remained unchanged.
The NASD market closed positive after today’s trading activities as the Unlisted Securities Index (USI) increased by 1.27% to close at 740.22. Consequently, Market Capitalization also closed positive at N526.16 billion. Market activity measured by aggregate volume decreased by 55.43% while value increased by 22.83%. Investors traded a total of 342,892 units of shares valued at N106 million in 13 deals.
Please find here our Daily Financial Market update for today, March 30th, 2021.