Vetiva Capital Management - NSE ASI up 8bps at week close

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Vetiva Capital Management

NSE ASI up 8bps at week close

â€‹What shaped the market today?

Ahead of the Christmas holiday, the NSE ASI eked out an 8bps return amidst mixed performances across key sectors. On the global scene, there was little holiday cheer as Asian shares were in the red whilst European markets trod water amidst thin trading levels. U.S. stock index futures pointed to a flat open on Friday as many traders are expected to be away from their desk for the Christmas holiday.
The Oil & Gas sector (+218bps) was the leading light in todayâ€™s trading as FO (+10.24%), OANDO (+274bps), and TOTAL (+249bps) propelled gains. Also, the Industrial Goods sector (+149bps) continued to trade positively on the back of advances in heavyweight DANGCEM (+233bps) whilst CCNN (+497bps) extended its gaining streak. In contrast, the Financial Services sector (-181bps) sunk deeper into the red despite advances in STANBIC (+500bps) and STERLNBANK (+494bps) as a result of losses in GUARANTY (-499bps), FBNH (-286bps), and FCMB (-270bps). Finally, the Consumer Goods sector (-183bps) suffered the deepest losses following declines in PZ (-500bps), GUINNESS (-499bps), and NB (-313bps).
Market breadth turned negative with 19 advances and 20 declines.

What will shape the next trading session?

On returning from the Christmas holiday, we expect the mixed trading pattern to persist as investors cherry pick across bellwether stocks.

23/12/2016 4 EN

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Vetiva Capital Management

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NSE ASI up 8bps at week close

Breakfast Report - 19 June 2024

Nestle Nigeria Plc Q1'24 Earnings Release - Topline surge unable to mitigate headwinds

Nigerian Breweries Q1'24 Earnings Release - Price increases drive performance

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