Equity Market Report - 05 December, 2019 | InfoWARE Finance
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..
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%).
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