Daily Financial Market Report for May 17, 2021

Equities market closes on a Negative note…ASI Loses 44 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 0.44% to close at 39,306.47. Similarly, Market Capitalization decreased by 91 billion to close at N20.49 trillion while the Year-to-Date (YtD) returns settled at -2.39%.

Sectors performance was Broadly Bearish

Performance across sectors was broadlybearish as 3 out of 5 sectors closed in the red zone. Banking, Insurance, Consumer goods and Industrial indices declined by 0.59%, 0.29%, 0.09% and 0.66% respectively, on the back of sell pressures recorded in the shares of AFRIPRUD (-6.92%), WAPCO (-2.42%), ACCESS (-2.37%), STANBIC (-2.17%), GUINNESS (-1.72%), GUARANTY (-1.67%), BUACEMENT (-1.16%), MTNN (-1.05%), DANGSUGAR (-0.85%) and FCMB (-0.66%)amongst others. While Oil and Gas Index advanced on the back of buy interests in the shares of ETERNA (9.85%) and OANDO (0.34%).

NASD Market

The NASD market remained unchanged after today’s trading activities as the Unlisted Securities Index (USI) closed at 768.42. Consequently, Market Capitalization also remained unchanged to close at N546.20billion. Market activity measured by aggregate volume decreased by 62.80% while value increased by 87.07%. Investors traded a total of  19,711,016 units of shares valued at N422.94million in 55 deals. 

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