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Equity Market Report - 19 November, 2019 | InfoWARE Finance

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  • Equity Market Report - 19 November, 2019 | InfoWARE Finance
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Equity Market Report - 19 November, 2019
(Source: Vetiva Research, Date: 19-Nov-2019)

Daily Equity Market Report,
19th November, 2019

From the trader's desk..

Gains in FO (+440bps), NB (+103bps), MTNN (+74bps) and ACCESS (+51bps) among others saved the equities market from another bearish performance. The ASI traded under at mid-day as continuous sell offs in banking and industrial stocks drove the index south. However, positive movements in some mid/large cap stocks at market close ensured the index closed 18bps above its opening points to settle at 26,739.52bps. Similarly, significant trades in MTNN, UACN and NB improved turnover for the day as total value traded increased by 17.04%, while market breadth remained positive at 1.43x with 20 gainers against 14 laggards.   

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



What will shape the market tomorrow?
The equities market advanced today on the back of capital appreciation in the most capitalized stock; MTNN (+74bps) as well as gains in the Consumer Goods and Oil & Gas sectors. We however expect the equities market to once again exhibit some level of volatility tomorrow, with persistent profit taking in some counters and bargain hunting in others.

Stocks to Watch
On the Bid Cart: CONOIL trailed EKOCORP (+10.00%) as the best performing stock for the day, gaining 974bps above its opening price to settle at ₦16.90. The counter opened the session 1.65% above its year low price of ₦15.40 and 35.34% below its year high price of ₦23.80, thus, leading to the BUY interest. On a YTD scale, CONOIL has lost 27.31% of its value (OANDO: -28.00%; SEPLAT: -14.11%; MOBIL: -20.27%; NSEOILGAS: -23.20% YTD).



On the Offer Cart: ABCTRANS closed the day as the top laggard. Leading the other 13 decliners ABCTRANS lost 889bps to close lower at ₦0.41. Though declining 889bps in today's session, ABCTRANS remained deep in the green for the year, with a gain of 41.38% above its opening price (₦0.29) for the year.
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