Equity Market Report - 20 November, 2019 | InfoWARE Finance
Equity Market Report - 20 November, 2019
(Source: Vetiva Research, Date: 20-Nov-2019)
Daily Equity Market Report,
20th November, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
There seems to be renewed interest in the equity space, though majorly in banking names and we believe the market should close positive tomorrow if this interest is sustained. Also, the aversion of another loss in MTNN, the most capitalized counter, should support another green close.
Stocks to Watch
On the Bid Cart: CHAMS (+10.00%) closed the day as the best performing stock ahead of LEARNAFRIC and CONOIL. The stock has rallied 37.5% this month and 66% since the beginning of the year. Though its trading at a discount to its year high price of ₦0.53, the counter has demonstrated that it has what it takes to continue to trade at this level.
On the Offer Cart: NASCON led only a handful of losers today after closing 572bps down at ₦14.00. The salt producer recorded its first loss in over a month after remaining flat at ₦14.85 for 29 sessions. The stock is not trading at a 35% discount to its year high price of ₦21.70 which it peaked at in March.
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