Business & Economy

Equities Market Closed Negative As Market Capitalization Lost N122.4Bn

Afolabi Sotunde Illustration Naira

The Nigerian equities market closed on a bearish note today, 3rd of March, 2021 following selloffs in large and mid-cap stocks.

At the close of market proceedings, the benchmark All Share Index (ASI) waned by 58bps to close at 39,697.62 while market capitalization shed N122.43bn to settle at N20.77tn. Consequently, the year-to-date performance adjusted to -1.42%.

The breakdown of performance across sectors indicates a significant bearish mood as 4 out of the 5 sectors under coverage closed negative. The Consumer Goods index topped the losers’ chart with a 3.86% decline following losses in CHAMPION(-9.69%) and NESTLE(-6.90%). Similarly, the Banking, Industrial and Oil & Gas indices went down by 0.12%, 0.41% and 0.88% on the back of selloffs in UBA(-1.80%), WAPCO(-7.90%) and ARDOVA(-9.97%). On the other hand, the Insurance index advanced by 0.21% as a result of gains recorded in LASACO(+7.14%) and PRESTiGE(+6.98%).

Advertisement

Afolabi Sotunde Illustration Naira

READ: Equities Market Closes Week In Green Zone As NSE All-Share Index Up Further By 1.56%

Market breadth measured by the number of advancers and decliners printed at 0.65x indicating bearish sentiments. There was however improvement in market activity as the value of transactions traded increased by 185.47%.

Equities Market Closed Negative As Market Capitalization Lost N122.4Bn

Fixed Income Market

The bond market traded on a bearish note with yields advancing across the short end of the curve. Notably, the yield on the FGN-APR-2023 advanced by 21bps to 7.10%. The yields across longer tenors however remain stable.

The Treasury bills market traded on a muted note as yields remain stable across different tenors. Yields on the 91-day, 182-day and 364-day maturities stabilized at 1.19%, 2.02% and 2.07% respectively.

Advertisement
READ: Zenith Bank Assures Customers On Seamless Transactions, Apologizes For Disruptions During Infrastructure Upgrade

Market Snapshot

  • Equities Market Closed Negative…Market Capitalization Lost N122.43bn Today
  • The Bond Market Remains Bearish across Shorter Maturities
  • U.S. Stocks Ease Rally amid Drop-in Treasury Yields
  • Oil Sinks Toward $60 Before OPEC+ Meets to Decide on Supplies
  • Naira Strengthened Against the USD at the Parallel Market to Close at N480/$

READ: Eurobond Market November Review And Outlook

Facebook Comments
Brand News Day

Share
Published by
Brand News Day
Tags: Equities marketMarket-Capitalization
4 years ago

Recent Posts

Zenith Bank Assures Customers On Seamless Transactions, Apologizes For Disruptions During Infrastructure Upgrade

Nigeria's leading financial institution, Zenith Bank, has reassured its customers of improved services following recent…

3 hours ago

Zenith Bank Enhances E-Channel Services For Customers

Zenith Bank, one of Nigeria's leading financial institutions, has restored improved services across its electronic…

4 hours ago

Olam Agri’s Feed Business In Nigeria Awards Back-to-School Scholarships To Students As Schools Reopen

Olam Agri, a leading agribusiness in Nigeria specializing in food, feed, and fibre, continues to…

4 weeks ago

EFCC To Begin Prosecuting Top Bank Executives Over Money Laundering

The Economic and Financial Crimes Commission (EFCC) has accused bank executives of being complicit in…

4 weeks ago

Why Ada Switched From Traditional Savings To DLM Fixed Income Fund, And You Should Too!

Ada had always been cautious with her money. Growing up, she watched her parents work…

4 weeks ago

African Union Writes South Africa, Nigeria As Race For AFRIMA 2025, 2026 Rights Gets Lit

South Africa may become the host of the next two editions of the All Africa…

4 weeks ago
Warning: Undefined variable $post in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5313 Warning: Attempt to read property "ID" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5313 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Undefined variable $rows in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Trying to access array offset on value of type null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318 Warning: Attempt to read property "seo" on null in /customers/e/a/5/brandnewsday.com/httpd.www/wp-content/plugins/schema-and-structured-data-for-wp/admin_section/common-function.php on line 5318

This website uses cookies.