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Equity Market Report - 14 October, 2019
(Source: Vetiva Research, Date: 14-Oct-2019)

Daily Equity Market Report,
14th October, 2019

From the trader's desk..

Riding on the back of upward movement in UBA (+169bps), DANGCEM (+55bps) and GUARANTY (+19bps) the ASI kick started the week on a positive note, gaining 10bps to close at 26,559.10bps. Similarly, activity levels increased significantly, with volume and value traded rising 9.96% and 82.46% respectively while NESTLE, GUARANTY and DANGCEM accounted for 50.51%, 14.11% and 9.52% of market turnover. A total of 12 stocks advanced in today's session against 8 that declined closing market breadth in the positive region at 1.5X against 0.83x recorded in the previous session.

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



What will shape the market tomorrow?
The ASI traded under for most part of today's session hovering between -3bps and -5bps, however late gains in DANGCEM pushed the index into the green, ending the 9 session losing streak. With all sectors closing higher {except the Banking sector (-0.03%) which declined marginally}, positive market breadth and most fundamentally sound stocks trading at new lows, we expect continued investor patronage in tomorrow's session.


Stocks to Watch
On the Bid Cart: COURTVILLE rose 10.00% in today's session to settle at ₦0.22 leading the bid cart after opening today's session at its year low price of ₦0.20. COURTVILLE  traded at its 52 weeks high price of ₦0.27 in May 2019 before dropping to its year low (₦0.20) in June. The stock has gained 10.00% YTD.



On the Offer Cart: GSPECPLC  started the week as the top decliner, dropping 962bps to close at its limit low for the day (₦4.70). Today's percentage change represents the first price movement in the counter that has traded flat at ₦5.20 since July 2019, bringing its YTD loss to -18.26%.




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