Equity Market Report - 11 September, 2019 | InfoWARE Finance
Equity Market Report - 11 September, 2019
(Source: Vetiva Research, Date: 11-Sep-2019)
Daily Equity Market Report,
11th September, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
With the ASI gaining today largely on the back of bargain hunting on SEPLAT and NESTLE, this feat might not be repeated in the next trading session, as investors' are likely to take profit on today's gains. The market still remains soft and we expect market volatility to continue amidst apathy and lack of major catalyst.
Stocks to Watch
On the Bid Cart: NESTLE (+370bps) was one of the biggest movers today behind UNIONDAC (+870bps) and CORNERST (+741bps) in a relatively quiet session. The stock closed at ₦1,080 in the previous session close to its 52week low of ₦1,070.00 which triggered some bargain hunting in the name. The stock closed at ₦1,120.00, which is still at a discount to its 52wk high of ₦1,617.10.
On the Offer Cart: LIVESTOCK (769bps) closed as the biggest loser today on thin volumes. The Agricultural firm, which is a subsidiary of UACN, hardly enjoys investors patronage and has been consistently under pressure. The stock is currently trading at a 50% discount to its year high value of ₦0.72.
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