NSE ASI opens higher, adds 60bps
What shaped the market today?
§The NSE opened the week in the green (up +60bps) following advances in key sectors. Global markets traded mostly lower as investors anticipate comments from the Federal Reserve due Friday for indications on the timing of interest rate hike. A sharp decline in oil prices also weighed on markets.
- §The Financial Services (+128bps) and Consumer Goods sector (+93bps) recorded gains on the back of advances in GUARANTY (+158bps), FBNH (+97bps), NB (+144bps) and NESTLE (+121bps). The Oil & Gas sector (+100bps) also closed higher following gains in FO (+119bps) and OANDO (+78bps). The Industrial Goods sector however remained unchanged.
§ Market breadth remained positive with 25 advances and 14 declines.
What will shape the nexttrading session?
- §Going by today’s gains and the sustained market breadth, we think market sentiment remains quite positive ahead of the next session.
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