Investors’ sentiment as measured by market breadth improved reflecting in 26 gainers against the 19 decliners.
Performance across the tracked indices was mostly bullish. Specifically, the insurance and banking indices rose by 3.19 per cent and 1.10 per cent respectively due to buy interests in SOVRENINS and GTCO . In the same vein, the consumer and industrial goods indices gained 0.85 per cent and 0.06 per cent respectively, owing to price appreciation in NB and WAPCO . On the flip side, the oil & gas index declined by 0.72 per cent due to sell pressures in Ardova .
In its latest investment report, analysts at Leadway Pensure PFA projected that trading in the equities space was likely to be fuelled by interest in fundamentally viable options. “We envisage further moderation to the index as investors are likely to opt for risk-free assets given the market dynamics,” the analysts said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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