NSE ASI up 49bps at week open
What shaped the market today?
- The NSE ASI opened the week to gains as advances in the Financials and Consumer Goods sectors offset declines in other key sectors. Meanwhile, a rebound in oil prices driven by supply outages in Canada sent most global indices higher at week open. The Chinese bourse however bucked the trend as investors reacted to weak Chinese trade date for April.
- The Financial Services (+208bps) and Consumer Goods (+60bps) sectors led advances, bolstered by sustained appeal for respective sector names, ZENITHBANK (+456bbps), GUARANTY (+303bps), ACCESS (+190bps), NB (+141bps) and UNILEVER (+10.24%). The Oil & Gas (-37bps) and Industrial Goods (-6bps) sectors however closed lower, pressured by declines in respective names, TOTAL (-318bps), FO (-30bps) and CCNN (-458bps).
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ACCESS topped both the volume and value charts trading 162 million units worth
N675 million.
What will shape the next trading session?
- With market sentiment still modestly positive, we see another likelihood of a green close for the NSE ASI in the next session.
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