January 10, 2020/Cowry Asset

The NSEAll Share Index (ASI) rose marginally by 0.07% ast he second week of trading in 2020came to a close.Much of the bullish stocks found it difficult to climb further today, thus leaving the Exchange with higher number of losers than gainers (28:11).

Similarly,in what appears like a partial profit taking,three of the five sub-sectors closed in red zone.

NSE Banking, NSE Insurance and NSE Oil/Gas indices fell by 1.04%, 2.62% and 0.11% respectively. Nevertheless, the year to date gain of the NSE ASI rose to 9.59% from9.51%. Market activity also slowed as the total volume and value of stocks traded declined by 59.47% and 35.32% to 0.28billion units and N4.82billion respectively.

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