Equity Market Report - 07 January, 2020 | InfoWARE Finance
Equity Market Report - 07 January, 2020
(Source: Vetiva Research, Date: 07-Jan-2020)
Daily Equity Market Report,
7th 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 another bullish session at the domestic bourse as all sectors once again closed higher except for the Oil & Gas sector, which dipped 0.42%, the result of a 611bps decline in FO. Due to current market sentiment and renewed buy-side interest in the domestic bourse, we anticipate an extension of today's performance into tomorrow's session.
Stocks to Watch
On the Bid Cart: FIDSON closed today's session 980bps above its opening price to settle at ₦2.80. The counter fell to its 52-week low price of ₦2.55 yesterday, creating an opportunity for bargain hunting on the counter which dipped as low as 17.74% YTD yesterday. The upward movement recorded today however improved its YTD performance to -9.68%.
On the Offer Cart: NCR (-10.00%) led the losers table, closing fully offered at its intra-day low price of ₦4.05. A single trade of 100k units at market close was sufficient to close the stock as the worst performer for the day. NCR's YTD performance is now pegged at -10.00%.
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