Financials taper gains as NSE ASI closes flat
What shaped the market today?
The Nigerian bourse maintained a green close albeit marginal as sustained gains in Consumer Goods were tempered by declines in the Financial Services. Despite a rebound in oil prices and a positive PMI figure from China (March: 52.2 vs February: 51.2), global markets traded mixed.
The Consumer Goods sector (+49bps) maintained a positive momentum as NB (+132bps), CHAMPION (+877bps) and TIGERBRANDS (+776bps) closed in the green. Whilst Industrial Goods closed flat, Financial Services lost ground on the back of declines in GUARANTY (-92bps), UBA (-248bps) and ACCESS (-25bps).
NEM topped the volume chart trading 39 million units whilst GUARANTY topped the value chart trading 18 million units worth N264 million.
What will shape the next trading session?
Market activity remained weak with low volumes suggesting waning investor appetite. We expect this to drive the market to a lower close tomorrow.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.