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Equity Market Report - 11 October, 2019
(Source: Vetiva Research, Date: 11-Oct-2019)

Daily Equity Market Report,
11th October, 2019

From the trader's desk..

The Equities market ended the week in red, declining 19bps to close at 26,533.78bps. Losses in NB (-417bps) and DANGCEM (-55bps) among others supported a negative d/d performance. Void of a transaction as massive as the DANGCEM cross which took place during yesterday's session, activity slowed significantly with volume and value traded dipping 67.68% and 92.10% respectively. Similarly, Market breadth (0.83x) closed under, with 10 stocks gaining against 12 that declined. WTD performance also came in bearish, with the ASI recording declines in every session bringing the WTD loss to 1.68% while all sectors closed down except the Banking sector that closed higher by 0.14%.

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



What will shape the market tomorrow?
Weak sentiment due to the absence of catalyst continues to dominate the market, evidenced by the negative performance this week. However, with most bellwether stocks hitting new lows, we expect to see bargain hunting in some of the fundamentally sound stocks next week.


Stocks to Watch
On the Bid Cart: ABCTRANS recorded the highest percentage gain for the day, closing higher by 10.00% to settle at ₦0.44. Despite the bearish trend in the equities market, ABCTRANS has appreciated 51.72% YTD and is just 22.81% away from its year high price of (₦0.57).



On the Offer Cart: NIGERINS emerged as the worst performing stock today, dipping 909bps to close at ₦0.20. Unlike other insurance stocks; WAPIC (+938bps), LINKASSURE (+851bps) and AIICO (+781bps) that moved higher in today's session, NIGERINS had a relatively bearish session, increasing its YTD loss to -16.67%.




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