NSE ASI swings into the red
What shaped the market today?
- §The NSE ASI pared previous gains as key sectors (save for Oil & Gas) swung to the red following three consecutive sessions of advances. Global markets traded mostly lower as investors remained in wait-and-see mode ahead of the speech by U.S Fed Chair due Friday.
- §The Industrial Goods sector (-237bps) led the market reversal after an early-session decline in DANGCEM (-471bps). The Financial Services (-70bps) and Consumer Goods (-42bps) also retreated into the red following declines in SKYEBANK (-781bps), ZENITHBANK (-186bps), NB (-78bps) and DANGFLOUR (-489bps). The Oil & Gas sector however proved resilient, adding 13bps on the back of an advance in SEPLAT (+181bps).
- § Market breadth turned negative with 11 advances and 30 declines.
What will shape the nexttrading session?
§Whilst weak market indicators (as revealed by market breadth and volume traded) present a case for a bearish week close, we expect losses to be less steep compared to today’s session.
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.