Vetiva Capital Management - NSE ASI dips as mixed trading persists

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Vetiva Capital Management

NSE ASI dips as mixed trading persists

What shaped the market today?

Mixed trading persisted on the Nigerian stock exchange as key sectors continued to oscillate between green and red closes. Global stocks traded further in negative territory as concerns about the upcoming Brexit vote weighed on global investor sentiment.

Following three consecutive green closes, Financial Services (-103bps) reversed fortunes at the close of todayâ€™s trading session as declines in GUARANTY (-263bps), ETI (-199bps) and ZENITHBANK (-33bps) outweighed advances in STANBIC (+461bps) and UBA (+141bps). Consumer Goods (-99bps) posted a third consecutive negative close following losses in NB (-231bps) and CADBURY (-361bps). Industrial Goods (+120bps) and Oil & Gas (+19bps) however bucked the trend, on the back of gains in respective large caps WAPCO (+311bps), DANGCEM (+12bps) and OANDO (+75bps).

GUARANTY topped the volume and value charts trading 36 million units worth N631 million.

What will shape the next trading session?

We expect the sideways trading to persist in the next session as large caps across key sectors continue to oscillate between gains and losses.

14/06/2016 2 EN

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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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NSE ASI dips as mixed trading persists

Breakfast Report - 19 June 2024

Nestle Nigeria Plc Q1'24 Earnings Release - Topline surge unable to mitigate headwinds

Nigerian Breweries Q1'24 Earnings Release - Price increases drive performance

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