ASI treads marginally higher in the steep mountain trek against harsh storm   

28th November, 2019

The Nigerian equity Market put a halt to its losing streak as the ASI increased marginally by 13bps to close at 26,824.50bps. Similarly, gains in the Banking and Oil & Gas sectors helped suppress losses recorded in the Consumer Goods, Industrial and Insurance sectors, as gains in FBNH (+462bps), GUARANTY (+50bps) and OANDO (+629bps) among others elevated their respective sectors. Following a similar pattern, total volume and value traded for the day recovered, rising 60.00% and 15.93% respectively while trades in NESTLE, DANGCEM and ZENITHBANK accounted for 47.15% of total turnover. Market breadth likewise closed positive (1.46x) with 19 stocks gaining while 13 closed under.

What will shape the market tomorrow? 

We expect the equities market to trade mixed tomorrow, with position taking in some counters and profit taking in others. The market has traded even so far this week, with 2 sessions of declines and 2 sessions of capital advancements, thus we expect the WTD Performance to be determined by tomorrow's outcome.

Reporting for EasyKobo on Thursday , 28 November 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

Copyright @ 2010-2019 by Naija infotech & solar energy ltd. All rights reserved