Report
Vetiva Capital Management

Market caps bearish week in green, up 44bps

What shaped the market today?

  • The NSE ASI (+44bps) trended higher at week close, bolstered by a turnaround in Consumer Goods stocks and gains across banking names. On the global front, Asian markets traded lower as a relatively stronger yen continued to weigh on market sentiment. European markets and U.S. futures also closed lower as investors digested some disappointing corporate earnings releases.
  • The Consumer Goods sector (+105bps) swung back to the green following bargain hunting in PZ (+10.12%) and NB (+175bps). The Banking sector (+75bps) also extended gains thanks to advances in ACCESS (+287bps), STERLNBANK (+137bps) and GUARANTY (+125bps). Whilst the Industrial Good sector maintained a flat close amidst gains in CUTIX (+274bps), the Oil & Gas sector (-59bps) snapped a five-session gaining streak on the back of profit taking in FO (-499bps) and OANDO (-63bps).
  • Market breadth turned positive with 22 advances and 12 declines.

What will shape the next trading session?

  • We expect mixed closes to persist across key sectors in the coming week as a mix of bargain hunting (particularly in Consumer Goods stocks) and reactions to earnings releases dictate overall market direction.


17/02/2017 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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