NSE ASI plunges further as weak sentiment persists
What shaped the
market
today?                  Â
§ The Nigerian bourse closed in the red for the third consecutive
session following losses across key sectors - led by Financial Services and Oil & Gas. Meanwhile, Asian markets
traded mixed amidst expectations of further easing measures from Bank of Japan.
However, European and U.S stocks traded in the green, buoyed by a number of
better than expected earnings.
§ The Financial Services (-134bps) and Industrial Goods (-87bps)
sectors extended their downtrend on the back of declines in ZENITHBANK
(-397bps), STANBIC (-483bps), FBNH (-196bps), DANGCEM (-132bps) and WAPCO
(-43bps). Similarly, the Oil and Gas (-122bps) sector closed lower following
losses in OANDO (-956bps) and TOTAL (-111bps) whilst the Consumer Goods sector
closed flat.
§ NEM topped the volume chart, trading 93 million units
whilst WAPCO topped the value chart trading, 11 million units worth N664
million.
Â
What will shape the next trading
session?
§  As indicated by the weak
market indicators (sustained negative breadth and weak turnover value), we note
that the below-view earnings figures and weak economic forecast currently weigh
on investor appetite.Â
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.