Equity Market Report - 30 September, 2019 | InfoWARE Finance
Equity Market Report - 30 September, 2019
(Source: Vetiva Research, Date: 30-Sep-2019)
Daily Equity Market Report,
30th September, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
In spite of the late gains in TOTAL and SEPLAT the domestic bourse closed the last trading session in Q3'19 in the red as sellers took profit on gains made last week. On the other hand, the ASI gained 0.38% in September, in a mixed month filled with bargain hunting and profit taking actions in bellwether stocks. However, we expect a bit of sell pressure in counters that gained today, in the next trading session, upon resumption from the independence day break on.
Stocks to Watch
On the Bid Cart: CAP gained 989bps in today's session, emerging as the best performing stock for the day to close at ₦25.55. CAP opened today's trading session at its lowest price in 5 years (₦23.25) leading to bargain hunting in the counter. The industrial stock subsequently trades at a 53.16% discount to its five-year high of ₦53.91.
On the Offer Cart: JOHNHOLT closed the day as the worst performing stock for the day, dipping 984bps to settle at ₦0.55. A single trade of 250k units ensured the counter closed at its lowest price for the day. Interestingly, JOHNHOLT has shown resistance in the persistent bearish market, recording a 25.00% YTD return.
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