November 27, 2020/Cowry Asset Report
The domestic equities market remained bullish as its All Share Index (ASI) further rose by 0.24% to end the trading week. Hence, the year to date gain of the NSE ASI rose to 29.97% even as the Exchange printed 18 gainers as against 16 losers.
We suspect investors are positioning ahead of the liquidity from the OMO market that could flow to the equities market next week. Despite the bullish run, only two of the five sub-indices closed in green: the NSE Consumer Goods and the NSE Oil/Gas rose by0.14% and 0.06% respectively.
The NSE Insurance, NSE Banking and the Industrial indices fell by1.93%, 0.23%and 0.01% respectively.Meanwhile, market activity remained weak as the deals, total volume and value of stocks traded moderated by 26.47%, 26.12% and5.64% to 3,976, 0.19billion units and N3.30 billion respectively.