NSE ASI sustains gain amidst earnings deluge
What shaped the market today?
• The Nigerian bourse held on to previous session gains as the NSE ASI leapt 43bps amidst a barrage of earnings releases. Major global market indices traded downward following a drop in oil prices and as investors continue to focus on earnings.
What will shape the next trading session?
• A look at the intraday chart reveals that market was shaped by reaction to earnings releases, especially for bellwether stocks (indicated by spikes and ample declines across the chart). We expect this pattern to persist as corporate announcements continue to dictate market moves.
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