Equity Market Report - 04 December, 2019 | InfoWARE Finance
Equity Market Report - 04 December, 2019
(Source: Vetiva Research, Date: 04-Dec-2019)
Daily Equity Market Report,
4th December, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
Although the equities market declined marginally by 2bps, there were improvements from the previous performance as indicated by positive market breadth and three of the five major sectors closing in the green. Having lost in three consecutive sessions so far this week, we expect to see position taking in some of the counters that have diminished in recent sessions.
Stocks to Watch
On the Bid Cart: JAPAULOIL closed the day as the best performing stock, gaining 10.00% to close at its intra-day day maximum price of ₦0.22. The stock traded at its lowest point for most part of the session, however a cross deal of c.800k units at market close pushed the counter to its maximum price for the day. JAPAUOIL however trades at a discount of 43.53% to its year high price of ₦0.39 and 77.32% away from its five year high price of ₦0.97.
On the Offer Cart: STERLNBANK led the other 13 decliners for the day, with a decline of 634bps to close at ₦1.92. However, despite the negative d/d performance, STERLNBANK remains one of the counters listed on the NSE with a positive YTD returns, printing at 1.05% YTD (FCMB: -4.76%; FIDELITY: -0.49%; WEMABANK: +12.70% YTD).
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