Report
Vetiva Capital Management

Energy stocks drag NSE ASI 5bps down

What shaped the market today?

  • The NSE ASI closed today’s session marginally down (-5bps) as losses across Energy stocks outweighed slight gains in other key sectors. On the global front, European markets closed lower as persistent weak sentiment in the banking sector continue to pressure markets. U.S. markets opened higher following the first presidential debate.
  • The Oil & Gas sector (-99bps) was the main underperformer in today’s session and singlehandedly pulled the index lower following losses in CONOIL (-769pbs), OANDO (-483bps), and FO (-53bps). Whilst the Industrial Goods sector closed flat, the Consumer Goods sector (+34bps) posted its fourth consecutive positive close on the back of advances in GUINNESS (+499bps) and FLOURMILL (+456bps). The Financial services sector (+11bps) also closed higher, snapping its three-session losing streak, thanks to gains in WEMABANK (+455bps), FCMB (+388bps) and ZENITHBANK (+97bps).
  • Market breadth turned even with 21 advances and 21 declines.

What will shape the next trading session?

  • Despite the ASI pushing for a recovery late in the session, we expect the persistent mixed closes across key sectors to continue in the session ahead.


27/09/2016 4 EN
Provider
Vetiva Capital Management
Vetiva Capital Management

​Vetiva provides clients with independent and unbiased access to analysis and opinion. We keep our clients on the cutting edge of market information and provide up to date market intelligence on quoted companies. Our services allow brokers, investment firms, and asset managers focus their energies on developing investment strategies and client relationships.

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