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Equity Market Report - 13 December, 2019
(Source: Vetiva Research, Date: 13-Dec-2019)

Daily Equity Market Report,
12th December, 2019

From the trader's desk..

The ASI could not sustain its upward trajectory, dropping 13bps in today's session due majorly to a decline in MTNN (-229bps) to end the week at 26,536.21. However, the Banking and Consumer Goods sectors continued to move higher on the back of buying interest in ZENITHBANK (+108bps), GUARANTY (+69bps) DANGSUGAR (+344bps) and UNILEVER (+27bps), while the Oil & Gas and Insurance sectors lost 0.55% and 0.53% respectively. With the absence of large crosses as previously seen in DANGCEM and other heavyweight stocks in today's session, total volume traded and turnover dipped 51.41% and 53.40% respectively, while trades in UBA, ZENITHBANK and GUARANTY accounted for 60.81% of total value traded. The week to date performance similarly closed negative, as the index lost 1.19% due to price depreciations in the two most capitalized stocks (DANGCEM and MTNN) among others. The Insurance and Oil & Gas sectors emerged as gainers for the week, both inching 0.03% w/w while all other sectors closed in the red.

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



What will shape the market tomorrow?
Today's trading session was negatively impacted by a late dip in MTNN (-229bps) as the index trended higher for most of the day. Thus, we expect a mixed trading session to start next week, with continued sell-offs on some counters that gained during the week and bargain hunting on others. 

Stocks to Watch
On the Bid Cart: AGLEVENT ended the last trading session as the best performing stock, gaining 833bps to close at ₦0.39. The counter is currently trading at a year-high and has gained 44.44% YTD, though it remains 78.82% away from its five-year high price of ₦1.70.



On the Offer Cart: GLAXOSMITH continued to hit new lows, dropping 948bps today to close the week at ₦5.25. The counter, which opened the year at ₦14.50, has now declined 63.79% YTD and is currently at its a five-year low.




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