NSE ASI hits the brakes
What shaped the market today?
Ahead of the outcome of the MPC meeting tomorrow, the NSE ASI ended a 6-session gaining streak, down 7bps amidst a seesaw trading session. Global markets traded higher following a rally in oil price after comments from Venezuelan President hinted a possible output stabilizing deal.
The Consumer Goods sector (-92bps) was the main laggard in today’s session following losses in heavyweights PZ (-733bps) and NB (-113bps). Save for that, all other key sectors closed higher. The Financial services (+25bps) and Industrial Goods (+24bps) sectors added points on the back of gains in FBNH (+441bps), SKYEBANK (+476bps) and WAPCO (+46bps). So also, the Oil & Gas sector (+16bps) on advances in TOTAL (+500bps) and another 10% rally in CONOIL amidst a 352bps decline in FO.
Market breadth remained positive with 29 advances and 21 declines.
What will shape the next trading session?
We anticipate a cautious session as investors look forward to the outcome of the MPC meeting scheduled tomorrow
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.