NSE ASI opens week in the green
​What shaped the market today?
The NSE ASI opened the week in positive territory buoyed by a rebound in the Financial Services and Industrial Goods sectors. Amidst intra-day volatility in oil prices, global markets traded mostly mixed even as investors eyed U.S. housing data due later this week.
The Industrial Goods (+177bps) and Financial Services (+168bps) sectors rallied from previous sessions’ losses as respective names - DANGCEM (+182bps), WAPCO (+199bps) and GUARANTY (+453bps), ZENITHBANK (+313bps) rallied. The Consumer Goods sector (-70bps) however came under sell pressure with declines in NB (-95bps), HONYFLOUR (-247bps) and TIGERBRANDS (-414bps).
ZENITHBANK topped both the volume and value charts trading 50 million units worth​
What will shape the next trading session?
We expect today’s rally to be sustained in tomorrow’s trading session as investors take advantage of relatively attractive valuations, particularly in Financials following recent sell downs in the sector.​
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