NSE ASI moderates gains at week close
What shaped the market today?
 The Nigerian bourse clinched a mild positive close as strong gains in the previous sessions spurred profit taking in a number of large caps. On the global front, Asian markets traded higher as investors cheered better-than-expected April inflation data from Japan whilst European markets see-sawed as investors eyed the intra-day fluctuation in oil prices. Ahead of a comment from Fed Chair, Janet Yellen, U.S. markets opened higher, buoyed by gains in Financial and Consumer Discretionary stocks.
 The Oil & Gas (+36bps), Consumer Goods (+8bps) and Industrial Goods (+2bps) sectors maintained green closes, albeit marginally, following modest advances in respective names; OANDO (+274bps), NB (+94bps), UNILEVER (+152bps) and DANGCEM (+3bps). However, the Financial Services sector (-9bps) reversed previous sessions’ gains as sector leaders, ZENITHBANK (-304bps), GUARANTY (-186bps) and UBA (-289bps) succumbed to profit taking.
 FBNH topped both the volume and value charts, trading 100 million units worth N444 million.
What will shape the next trading session?
 We expect profit taking to extend into the coming sessions following strong gains this past week. However, we think market’s acceptance of the new foreign exchange market framework (if announced during the week) could stretch the bull run.
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