Report

NSE ASI wraps up week in the green, moderates April's losses to 96bps

What shaped the market today?
ï‚§ The NSE ASI maintained a positive momentum at the last trading session of the month, bolstered by sustained advances in Consumer Goods and Financial Services counters. Global equities however maintained a bearish note as investors looked past sustained rebound in oil prices (Brent was trading at $47.80/bbl. 18:00 hours W.A.T) to focus on a slew of weak earnings releases.

 Key sectors replicated the previous session’s trading pattern with the Consumer Goods sector (+229bps) maintaining top place amongst the gainers thanks to sustained advances in NB (+499bps), PZ (+496bps) and CADBURY (+494bps). The Financial Services sector (+94bps) also advanced, completing a week-long gaining streak as ZENITHBANK (+342bps), GUARANTY (+78bps) and WEMABANK (+127bps) appreciated. However, the Industrial Goods sector (-114bps) extended its negative close as WAPCO (-333bps) remained pressured.

ï‚§ UBA topped the volume chart trading 32 million units whilst ZENITHBANK topped both the value chart trading 27 million units worth N333 million.



What will shape the next trading session?

 We see further room for mixed trading pattern with bullish bias when the market resumes on the 3rd of May (The Federal Government announced 2nd of May as a public holiday to commemorate Workers’ Day) as we expect investors to continue to react to the latest string of Q1’16 earnings.

Provider
Vetiva Capital Management
Vetiva Capital Management

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