Equity Market Report - 13 November, 2019 | InfoWARE Finance
Equity Market Report - 13 November, 2019
(Source: Vetiva Research, Date: 13-Nov-2019)
Daily Equity Market Report,
13th November, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
The performance of the ASI today can be largely attributed to the decline in market heavyweight (DANGCEM) as well as profit taking by investors in some of the counter that rallied in recent session. However, with an increase in transaction sizes in recent sessions and continued BUY interest in Banking stocks, we expect the ASI to return to the positive side tomorrow in the absence of sell offs in heavyweight stocks.
Stocks to Watch
On the Bid Cart: IKEJAHOTEL which closed as the top decliner in yesterday's session recovered ₦0.08 (+909bps d/d) from the ₦0.09 lost yesterday to close the day at ₦0.96. The upward movement recorded today reduced the counter's YTD loss from -42.48% recorded yesterday to -37.25% YTD.
On the Offer Cart: TOTAL closed the day with the highest d/d decline, shedding 998bps to close fully offered at ₦110.90. The stock currently trade at a premium of 14.92% to its year low price of ₦96.50 while trading at a discount of 50.33% to its year high price of ₦22.30. Similarly, OANDO and SEPLAT lost 390bps and 271bps respectively, closing the Oil and Gas sector (-1.43%) as the worst performing sector for the day.
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