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NSE ASI advances 80bps as Financials lead
What shaped the market today?
- The Nigerian Equity market halted a 3-day losing streak today as a pick-up in buying interest for Financial Services stocks lifted the All Share Index by 80bps. On the global scene, markets continued to trade northwards amidst easing Brexit concerns; FTSE and Nikkei up 2.3% and 1.6% respectively.
- Financial Services (+200bps) led gainers today, buoyed by advances in select large caps such as GUARANTY (+417bps), ZENITHBANK (+224bps) and UBA (+169bps). The Industrial Goods (+60bps) and Oil & Gas (+40bps) sectors also posted gains courtesy of respective advances in DANGCEM (+98bps) and FO (+159bps). The Consumer Goods sector however remained unchanged amidst muted performances in key names.
- TRANSCORP topped the volume chart trading 53 million units whilst GUARANTY topped the value chart trading 36 million units worth
N829 million.
What will shape the next trading session?
- With today’s closing positions showing a gradual improvement in market sentiment, we expect gains to filter into tomorrow’s session as buying interest strengthens further across key sectors.
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