Equity Market Report - 05 December, 2019

Equity Market Report - 05 December, 2019
(Source: Vetiva Research, Date: 05-Dec-2019)

Daily Equity Market Report,
5th December, 2019

From the trader's desk..

Closing 9bps below its opening point, the Nigerian equities market dipped further in today's session to close the day at 26,913.70bps. The domestic market was negatively impacted by declines in the Insurance, Banking and Oil & Gas sectors, which eroded gains recorded in the Consumer Goods and Industrial sectors. Market activity however saw a significant improvement with total volume and value traded increasing 83.14% and 164.25% from 112.88m units and ₦1.08bn traded yesterday to 206.73m units and ₦2.85bn respectively. Market breadth however reversed its positive position (1.14x) to close negative at 0.42x, with 8 stocks advancing while 19 declined.

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

What will shape the market tomorrow?
The domestic market has traded under so far this week, with four sessions of declines already in a week dominated by profit taking action. The ASI is set for a negative WoW performance as the bearish trend is expected to filter into tomorrow's trading session.

Stocks to Watch
On the Bid Cart: DANGSUGAR trailed UNIONDAC (+833bps) and CHAMS (+909bps) as the third best performing stock for the day, increasing 803bps to settle at ₦14.80. The counter has experienced positive investor sentiment since the announcement of the proposed business combination (merger) between itself (Dangote Sugar Refinery) and its subsidiary (Savannah Sugar Company Limited) was published in November, gaining over 48.00% since the announcement (-2.95% YTD).

On the Offer Cart: CORNERST led other decliners in today's session, with a 10.00% drop to close at its intra-day low price of ₦0.63. Despite the decline, the shares of the insurance company have significantly outperformed the ASI for the year, printing a YTD return of over 200.00% and remains the only stock at the local bourse that has returned over 100.00%. (CONTINSURE: +15.18%; CUSTODIAN: +6.19%; AIICO: +17.46%; Insurance sector: -6.04%; ASI: -14.37%).

Equity Market Report - 05 December, 2019 | InfoWARE Finance

₦98,176.76

ASI

₦3,636.84

NGX30

₦764.50

NGXBNK

₦1,570.61

NGXCNSMRGDS

₦1,272.53

NGXOILGAS

₦9,486.02

NGXPREMIUM

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Equity Market Report - 05 December, 2019 (Source: Vetiva Research, Date: 05-Dec-2019)

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Equity Market Report - 05 December, 2019
(Source: Vetiva Research, Date: 05-Dec-2019)