NSE ASI advances amidst low-volume trade
What shaped the market today?
The Nigerian equities index traded higher, bolstered by a rally in the Consumer Goods and Financial Services sector. Amidst a slew of mixed economic data from the Eurozone, Asian and European markets traded mostly lower as sustained decline in commodity prices weighed on investor sentiment. Notably, Chinese markets bucked the trend, coming off early losses to close in the green. U.S. futures also pointed to a lower open.
The Consumer Goods sector (+145bps) rallied to its first green close in three sessions as heavyweight NB (+388bps) recovered from previous sessions’ declines and TIGERBRANDS (+498bps), NASCON (+492bps) appreciated. The Financial Services sector (+36bps) also rebounded following advances in sector leaders ZENITHBANK (+110bps), GUARANTY (+79bps) and ACCESS (+100bps). The Industrial Goods sector (-6bps) however closed slightly lower as small cap CCNN (-487bps), PORTPAINTS (-500bps) and CUTIX (-435bps) fell.
STERLNBANK topped the volume chart trading 38 million units whilst NESTLE topped the value chart trading 409 thousand units worthWhat will shape the next trading session?
Noting weak investor appetite as indicated by the sustained low volumes in recent trading sessions, we expect gains to thin out in tomorrow’s trading session.
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.