Equity Market Report - 19 December, 2019 | InfoWARE Finance
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Equity Market Report - 19 December, 2019
(Source: Vetiva Research, Date: 19-Dec-2019)
Daily Equity Market Report,
19th December, 2019
From the trader's desk..
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
A mid-session decline in MTNN cemented the loss for the ASI today while the session was generally mixed otherwise. We expect investors to carefully hunt for bargains on certain stocks which depreciated in today's session, however, activity in the market heavyweights will ultimately determine the direction of the ASI. As such, we foresee a mild recovery for the Nigerian bourse tomorrow.
Stocks to Watch
On the Bid Cart: GLAXOSMITH was the biggest gainer today after climbing 952bps to close at ₦5.75. Today's gain is a mild recovery from its year-low of ₦5.25. The pharmaceutical company has now declined 60% YTD and has been on a steady decline through out the year unable to break it's year open price ceiling.
On the Offer Cart: An early session 140m+ cross in ACCESS stamped its loss for the day. Though the tier-1 bank was not among the largest losers shedding a meagre -101bps (₦9.80), the large cross in the banking name could be an indication of the future direction of its price. The stock traded as high as ₦10.80 mid-November but has since shed 9%. ACCESS is one of the few stocks on the exchange with a positive YTD return printing at 24% YTD.
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