Report
FREE
Nigerian stocks rally on, ASI up 214bps
What shaped the market today?
- The Nigerian equity market rode further on the euphoria of the new currency market structure with most blue chips closing firmly in the green. On the global scene, most indices were in negative territory as the upcoming Brexit vote and decisions by the Bank of Japan and U.S Federal reserves to leave interest rates unchanged weighed on market sentiment.
- The Financial Services (+310bps) and Consumer Goods (+281bps) sectors extended gains following sustained interested in ZENITHBANK (+520bps), GUARANTY (+376bps), ETI (+250bps), and NB (+599bps). Likewise, the Industrial Goods (+217bps) and Oil & Gas (+73bps) remained upbeat owing to advances in heavyweight DANGCEM (+166bps) and OANDO (+563bps).
- UBA topped the volume chart trading 166 million units, whilst ZENITHBANK topped the value chart trading 75 million units worth
N1.3 billion.
What will shape the next trading session?
- Amidst the largely positive market sentiment, we anticipate another positive close in the session ahead; we see the NSE ASI potentially with a positive year-to-date return at week close.
Provider
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.
Other Reports from Vetiva Capital Management
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.