Equity Market Report - 06 January, 2020 | InfoWARE Finance
Equity Market Report - 06 January, 2020
(Source: Vetiva Research, Date: 06-Jan-2020)
Daily Equity Market Report,
6th January, 2020
From the trader's desk...
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
It was a bullish trading session at the equities market today as all sectors settled in the green, led by the Banking sector that gained 3.90%. We expect similar trading patter tomorrow as dividend yields in the equities space remain attractive for dividend seeking investors. We however cannot disregard the possibility of profit taking on the counters that have moved higher in recent sessions.
Stocks to Watch
On the Bid Cart: FCMB started the week as the best performing stock, gaining 10.00% to close at its intra-day maximum price of ₦2.09. The counter traded a total volume of 54.86m units for the day with most trades occurring at the bid side. FCMB trades 12.97% above its year opening price of ₦1.85.
On the Offer Cart: While the day was positive and most counters closed higher, PZ emerged as the worst performing stock for the day dipping 973bps to close at ₦5.10. The unfavorable performance can be linked to the unimpressive Q2'19 result reported by the company where its Revenue declined 5.32% YoY, while also declaring a loss after tax of ₦484.46mn for the period as against the ₦1.43bn profit reported in Q2'18.
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