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Equity Market Report - 17 October, 2019 | InfoWARE Finance

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  • Equity Market Report - 17 October, 2019 | InfoWARE Finance
-0.03% trending_down
₦98,125.73
ASI
-0.07% trending_down
₦3,633.28
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1.09% trending_up
₦791.54
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0.10% trending_up
₦1,528.13
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-0.27% trending_down
₦1,177.92
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0.20% trending_up
₦9,657.01
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Equity Market Report - 17 October, 2019
(Source: Vetiva Research, Date: 17-Oct-2019)

Daily Equity Market Report,
17th October, 2019

From the trader's desk..

The equities market ended the day in red, dropping a meagre 6bps to close at 26,456.29bps. Today's downtrend came on the back of declines in UBA (-252bps), GUARANTY (-130bps), and ZENITH (-84bps). Despite significant transactions in NESTLE and GUARANTY that accounted for 43.25% and 32.65% of turnover, value traded for the day dipped 19.55% while volume increased slightly by 4.00%. Market breadth closed positive settling at 1.38x with 11 gainers against 8 decliners.

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



What will shape the market tomorrow?
Bearish performances recorded in Banking (-86bps) and Industrial (-8bps) stocks pulled down the ASI despite capital appreciation in the most capitalized stock MTNN (+39bps). With 3 sessions of decline already this week we expect no deviation from this patter in tomorrow's session leading to a negative WoW performance.

Stocks to Watch
On the Bid Cart: CHAMS gained 909bps in today's session, just behind WAPIC (+938bps) to close at ₦0.24. CHAMS peaked at its year high price of ₦0.53 in May and now trades at a discount of 54.72% to that point. Despite the persistent bearish trend in the equities market, the counter has gained 20.00% YTD.



On the Offer Cart: CORNERST ended the day with a decline of 811bps, closing as one of the top laggards for the day while settling at ₦0.34. CORNERST rose over 100.00% in September giving opportunity for profit taking on gains made in recent sessions. The insurance stock currently has a YTD return of 70.00%.




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