Equity Market Report - 17 January, 2020 | InfoWARE Finance
Equity Market Report - 17 January, 2020
(Source: Vetiva Research, Date: 17-Jan-2020)
Daily Equity Market Report,
17th January, 2020
From the trader's desk...
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
The bourse closed the week in the green as bargain-hunting on Tier-1 banks persisted for a second straight session. We expect a slight moderation in market gains early next week, but believe that the positive macro outlook for 2020 could continue to support demand at current levels. Also, the low yield environment in the fixed income space is expected to support further interest from the institutional investors in the equities market.
Stocks to Watch
On the Bid Cart: UACN (+700bps) closed as one of the highest gainers today behind CORNERST (+741bps). The conglomerate has gained over 22% this year based on today's close of ₦10.70, however, it remains below its 2020 year-high price of ₦11.15. Last year, the company's board announced some restructuring plans for the company which spurred renewed investor interest.
On the Offer Cart: GOLDBREW (-899bps) was the worst performing stock in today's session and represents the first price movement on the stock in 52 weeks. The company continues the rebrand following the fire outbreak at its facility in 2003. With stiff competition in the brewery sector, we foresee continued revenue challenges and thin margins hampering the brewer's profits and thus, its share price.
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