Vetiva Capital Management - NSE ASI ekes out 28bps w/w gain

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Vetiva Capital Management

NSE ASI ekes out 28bps w/w gain

What shaped the market today?

The Nigerian equity market traded flat (-2bps) at week close following mixed performances across key sectors. Global markets also traded mixed as investors digested softer than expected Chinese export data and earnings releases from some U.S. blue chip Financial Services firms.
The Oil & Gas sector (-183bps) dipped further as declines in MOBIL (-500bps) and SEPLAT (-263bps) outweighed gains in CONOIL (+233bps) and OANDO (+21bps). The Industrial Goods sector (-14bps) also closed lower following losses in CUTIX (-491bps) and CAP (-303bps) whilst the Consumer Goods sector closed relatively flat amidst mixed performances across CADBURY (-327bps), HONYFLOUR (-323bps), DANGFLOUR (+122bps) and NB (+13bps). However, the Banking sector (+45bps) continued higher as DIAMONDBNK (+882bps), STANBIC (+326bps) and ACCESS (+183bps) extended gains.
Market breadth remained negative with 23 advances and 27 declines.

What will shape the next trading session?

Save for the banking sector, sentiment across key sectors remains quite bearish. We believe this could drag the ASI further down in the week ahead.

13/01/2017 3 EN

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Vetiva Capital Management

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NSE ASI ekes out 28bps w/w gain

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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