Report
FREE
NSE ASI opens H2'16 lower, down 99bps
What shaped the market today?
- Nigerian stocks opened the second half of 2016 on a weak note as a number of large caps across key sectors remained under pressure. Global stocks continued to trade in positive territory as the post-Brexit rally persisted, buoyed by dovish comments from Bank of England Governor and better than expected manufacturing data from the U.S.
- The Consumer Goods (-238bps) and Industrial Goods (-207bps) sectors posted the largest declines following losses in NB (-500bps), GUINNESS (-392bps), WAPCO (-477bps). Similarly, the Financial Services (-93bps) sector shed more weight owing to declines in ZENITHBANK (-108bps), ETI (-300bps) and UBA (-191bps). However, the Oil & Gas (+63bps) sector bucked the trend largely supported by price appreciation in OANDO (+292bps).
- GUARANTY topped the volume chart trading 48 million units worth
N1.1 billion.
What will shape the next trading session?
- With Q2 earnings season drawing nearer as market moves into H2’16, we do not rule out the possibility of investor positioning ahead of these releases from the next week. That said, we foresee mixed performances across stocks at week open.
Provider
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.
Other Reports from Vetiva Capital Management
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.