Report
FREE
U.S election outcome triggers global sell-off
What shaped the market today?
- The Nigerian equity market closed lower for the sixth straight session (the longest streak since July) as the ASI fell 72bps, mostly weighed down by declines across banking stocks. On the global front, European and Asian markets tumbled as the U.S elections drew to a close. Also, U.S stocks opened lower after Donald Trump was announced President-elect.
- The Financial Services sector was the main drag in today’s session, closing 302bps lower, following declines in ACCESS (-463bps), GUARANTY (-350bps) and ZENITHBANK (-280bps). The Consumer Goods sector (-39bps) also closed in red amidst mixed performances across PZ (-839bps), FLOURMILL (-500bps), DANGSUGAR (+294bps) and GUINNESS (+169bps). The Industrial (+10bps) and Oil & Gas (+8bps) sectors however posted mild gains on the back of advances in CAP (+406bps) and OANDO (+95bps).
- Market breadth remained negative with 11 advances and 30 declines.
What will shape the next trading session?
- We believe the ASI is headed for another negative close in the session ahead amidst the overall weak investor appetite.
Provider
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.
Other Reports from Vetiva Capital Management
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.