Report
Vetiva Capital Management

NSE ASI turns negative as stocks trade mixed

What shaped the market today?

  • The NSE ASI (-28bps) turned negative in today’s session as declines across consumer goods and industrial goods stocks outweighed gains in other key sectors. Global markets were slightly higher as concerns over political stability in Italy eased and as investors braced up for upcoming meetings of the U.S. Fed and European Central Bank.
  • The Consumer Goods sector (-80bps) receded following continuous losses in GUINNESS (-499bps) and NESTLE (-123bps). The Industrial Goods sector (-63bps) extended losses after a decline in heavyweight DANGCEM (-115bps); PORTPAINT (+947bps) extended its winning streak to five sessions, possibly catching a lift from the announcement of a mandatory takeover of up to two million ordinary shares by its largest shareholder – UACN. However, the Oil & Gas sector (+280bps) closed higher after limit up closes for TOTAL and FO, likewise the Financial Services (+11bps) after ETI (+145bps) and GUARANTY (+43bps) retraced previous session’s losses.
  • Market breadth remained negative with 15 advances and 19 declines.

    • What will shape the next trading session?

    • We expect the mixed trading pattern to persist in coming sessions as the hunt for bargains fades further.


06/12/2016 3 EN
Provider
Vetiva Capital Management
Vetiva Capital Management

​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.

See profile
Other Reports from Vetiva Capital Management
Read more reports

ResearchPool Subscriptions

Get the most out of your insights

Get in touch