Vetiva Capital Management - Equities trade in the green after holiday break

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Vetiva Capital Management

Equities trade in the green after holiday break

What shaped the market today?

Coming off a two-session holiday, the Nigerian stock exchange traded higher (NSE ASI: +76bps) supported by firm gains across most key sectors. Global markets traded mixed amidst thin volumes with major indices trending in different directions. Whilst the Nikkei 225 closed flat, the FTSE traded higher. Meanwhile, U.S. futures pointed to a flat open ahead of a deluge of economic data.
The Consumer Goods sector (+149bps) snapped a five-session downtrend to lead advances in todayâ€™s session thanks to gains across NASCON (+848bps), CADBURY (+798bps) and NB (+326bps). Also, the Oil & gas sector (+101bps) extended its rally bolstered by advances in MOBIL (+429bps), OANDO (+200bps) and TOTAL (+110bps). The Financial Services sector (+70bps) swung into positive territory following gains in a handful of banking stocks â€“ notably, STANBIC (+496bps), ACCESS (+492bps), FBNH (+294bps) and ZENITHBANK (+166bps). The Industrial Goods sector however closed flat following mixed performances across ASHAKACEM (+409bps) and heavyweight WAPCO (-12bps).
Market breadth turned positive with 34 advances and 17 declines.

What will shape the next trading session?

In the coming session, we expect the market to remain in the green given the decent investor appetite observed today even as market breadth turned markedly positive.

28/12/2016 3 EN

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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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Equities trade in the green after holiday break

Breakfast Report - 19 June 2024

Nestle Nigeria Plc Q1'24 Earnings Release - Topline surge unable to mitigate headwinds

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