Daily Equity Market Report,
25th November, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
The domestic market experienced some profit taking today as investors sold off some counters that recorded capital appreciation last week. However, positive price movement in the Consumer Goods sector reduced the impact of losses recorded in the Banking and Oil and Gas sectors. While we expect investors to continue to sell down some of the counters that have moved higher recently, we expect position taking in other counters that are yet to enjoy patronage.
Stocks to Watch
On the Bid Cart: NESTLE extended gains from positive investor sentiment, recording a 612bps uptick in today's session (Closing price: Ã¢â€šÂ¦1,300.00). The counter has risen over 13.00% in the last 2 sessions, thereby reducing its YTD loss to 12.46%. However, the shares of the food producing company still trade at a 19.61% discount to its year high price of Ã¢â€šÂ¦1,617.10.
On the Offer Cart: After coming in as the best performing stock on Friday, with a gain 10.00%, investors took profit on some of the gains recorded in OKOMUOIL last week, as the stock declined 973bps today closing the session as the worst performing stock (Closing price: Ã¢â€šÂ¦49.65). The counter has now lost 34.84% of its value YTD (PRESCO: -40.86%; Consumer Goods sector: -29.01% YTD).