Equity Market Report - 17 September, 2019

Equity Market Report - 17 September, 2019
(Source: Vetiva Research, Date: 17-Sep-2019)

Daily Equity Market Report,
17th September, 2019

From the trader's desk..

The Nigerian Equities Market dipped for the second straight day in the week as losses in AIRTELAFRI (-10.00%), FLOURMILL (-370bps) and ZENITHBANK (-157bps) outweighed gains in PZ (+932bps), STANBIC (+669bps), OKOMUOIL (+388bps) and ACCESS (+340bps). Just like the last trading session, the equities market traded in the green till midday but subsequently dropped 61bps towards the close of the session settling at 27,407.04bps. Similarly, market activity slowed down as volume and value traded reduced by 26.62% and 0.22% respectively while market breadth continued to remain positive settling at 1.47x with 22 advances against 15 declines.

For a breakdown of stock performances, please see the pricelist.

What will shape the market tomorrow?
Despite the broader index posting a negative performance, other major performance indicators such as NSE30 (+30bps), NSE50 (+37bps), NSEPREMIUM (+4bps), market breadth (1.47x) and most sectors closing positive except the Banking sector (-1.00bps), indicates that sentiment is still marginally positive at the local market, however, the direction of the ASI is still majorly dependent on the performances of market heavyweights. Hence, we expect to see a similar pattern tomorrow in the absence of positive movement in the large cap stocks.

Stocks to Watch
On the Bid Cart: LIVESTOCK trailed NEM (+974bps) today gaining 952bps to close the day up at ₦0.46. Buyers patronage in the agricultural firm reduced its YTD loss from the -14.29% reported yesterday to -6.12%. The counter just like other stocks at the local bourse trades at the band of its lowest price in 5 years.

On the Offer Cart: AIRTELAFRI continued its bearish performance as the worst performing stock for the second consecutive session, dropping 10.00% to settle at ₦283.50. The telecommunication stock has not been highly traded since it got listed on NSE. The consecutive declines in AIRTELAFRI increased its YTD loss to -21.90%.

Equity Market Report - 17 September, 2019 | InfoWARE Finance

₦98,225.63

ASI

₦3,634.51

NGX30

₦774.35

NGXBNK

₦1,545.76

NGXCNSMRGDS

₦1,267.98

NGXOILGAS

₦9,606.91

NGXPREMIUM

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Equity Market Report - 17 September, 2019 (Source: Vetiva Research, Date: 17-Sep-2019)

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Equity Market Report - 17 September, 2019
(Source: Vetiva Research, Date: 17-Sep-2019)