NSE ASI Appreciates by 1.59% amid Sustained Bullish Momentum…

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In line with our expectation, sentiments in the domestic equities market remain positive amid bargain hunting activities. Specifically, the NSE All share Index gained 1.59% week-on-week to close at 31,016.17 points.

Similarly, sectoral performance was positive as three out of the five indices tracked closed in green; the NSE Banking, NSE Consumer Goods and the NSE Industrial
gauges advanced by 2.17%, 0.57% and 2.87% to 380.70 points, 549.19 points and 1,366.10 points respectively.

On the flip side, the NSE Insurance
and the NSE Oil/Gas indices moderated by 1.32% and 0.77% to 143.20 points and 213.67 points respectively.

Meanwhile, market activity was mixed as total deals and volume climbed by 6.82%, and 8.24% to 31,016.17 deals and 2.06 billion shares. However, total value of stocks traded moderated by 4.13% to N22.63 billion.

In the new week, we expect the positive performance of the local bourse to be sustained amid positive 9 months results.

Nevertheless, investors are advised to trade cautiously as gainers may decide to take profit soon.

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