NSE ASI continues rout as key sectors shed weight
What shaped the
market
today?
§ The Nigerian equity market extended its negative run fueled by
sustained losses amongst key sectors with the Financial Services sector
completing a seven-session decline. On the global scene, Asian markets were
mostly up after the Bank of Japan hinted the introduction of stimulus packages
worth $188 billion, exceeding expectations of about $94 billion. U.S stocks
rallied as investors continue to cheer a slew of upbeat earnings releases.
However, European markets traded lower following the decision of the European
Central Bank to keep interest rate at 0%.
§ The Financial Services (-256bps) and Oil & Gas (-92bps)
sectors weighed most on the NSE ASI following significant losses in DIAMONDBANK
(-862bps), STANBIC (-500bps), GUARANTY (-323bps), and OANDO (-872bps).
Industrial Goods (-32bps) and Consumer Goods (-24bps) sectors also closed in
the negative on the back of declines in WAPCO (-25bps), HONYFLOUR (-800bps),
DANGSUGAR (-456bps) and GUINNESS (-87bps).
§ SKYEBANK topped the volume chart, trading 54 million units whilst WAPCO topped the value chart, trading 8 million units
worth N479 million.
What will shape the next trading
session?
§ We see the market completing an all week loss at week close amidst sustained bearish sentiment for bellwether stocks
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.