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.
Thank you for reading this post, don't forget to subscribe!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.