Equity Market Report - 09 October, 2019 | InfoWARE Finance
Equity Market Report - 09 October, 2019
(Source: Vetiva Research, Date: 09-Oct-2019)
Daily Equity Market Report,
9th October, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
Even though the equities market continued to trade in the red due to negative movements in mid/large cap stocks, we maintain our position that current price levels are attractive for value/growth mid to long term investors. Hence, we expect some cherry picking by investors in some fundamentally sound stocks trading at their lows in tomorrow's session.
Stocks to Watch
On the Bid Cart: LEARNAFRCA gained 980bps reversing the 893bps loss in the previous session to close at intraday high price of ₦1.12. The counter opened at its 52 week low price of ₦1.02 presenting the opportunity for investors to take position. LEARNAFRCA trades at a discount of 27.74% to its 52 week high price of ₦1.55 and has lost 17.65% YTD.
On the Offer Cart: PZ led the other 14 decliners for the day, dropping 10.00% to settle at ₦6.30. PZ rallied over 26.00% under a two-month period leading to profit taking action in the counter in today's session. After shedding 10.00% today, PZ has now lost 47.93% YTD.
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