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Equity Market Report - 15th January, 2021
(Source: Vetiva Research, Date: 15-Jan-2021)
Daily Equity Market Report, 
15th January, 2021

From the trader's desk...

The ASI ended the last trading session of the week on a bullish note, advancing 52bps to close at 41,176.14 points. Just like the other trading sessions so far this week, the Bulls dominated most of today's session. Counters such as; NB (+336bps), WAPCO (+128bps) and MTNN (+119bps) closed the day higher, while mitigating the effect of losses in ARDOVA (-984bps), ZENITHBANK (-38bps) and UNILEVER (-37bps). Meanwhile, market activity plotted a downward slope, with the total volume and value traded reducing by 17.62% and 28.18% respectively, as trades in GUARANTY, ZENITHBANK and NESTLE dominated the market turnover. On a WoW basis, the domestic bourse advanced 2.63% while the YTD return also increased to +2.25%. All the five major sectors closed the week in the green, led by the Insurance sector which advanced 17.48% WoW, while the Banking sector recorded the least gain of +2.53%.               
For a breakdown of stock performances, please see the pricelist.

What will shape the market tomorrow?
Investors' sentiment was largely positive during the week, evidenced by the positive sectoral performances, in conjunction with a green close in all of the five weekly trading sessions. Though most fundamental indicators point towards an extension of the bullish performance in the following week, however, we believe some of the gainers this week might witness a bit of declines next week as short term players start to take advantage of recent gains.           

Stocks to Watch
On the Bid Cart: UACN emerged as the best performing stock for the day, putting up a gain of
10.00% to close at its intra-day maximum price of ₦8.25. The counter traded about 16.5mn units, with most of the trades going through at its upper band. Following today's gain its YTD return improved to +13.79%.           

On the Offer Cart: ARDOVA trailed DAARCOMM (-10.00%) as the worst performing stock for the day, to shed 984bps while closing at ₦19.70. Today's negative performance resulted from profit taking in the Oil & Gas stock which had gained about 62.00% in the last six sessions. However, despite today's loss, the ticker remains one of the best performing stock so far in the year, printing a YTD return of +45.39%.
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