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Equity Market Report - 7th April, 2021
(Source: Vetiva Research, Date: 07-Apr-2021)

Daily Equity Market Report, 
7th April, 2021

From the trader's desk...

The Nigerian bourse had a mixed session, with three of the four main sectors closing in the red, but gains in MTNN
(+112bps) pushed the market 2bps higher to close at 38,774.03. Also, the consumer Goods sector (+188bps) closed in the green thanks to gains in FLOURMILL (+690bps) and NESTLE (+327bps) outweighing the losses in GUARANTY (-328bps), ZENITHBANK (-411bps), ACCESS (-247bps) and UBA (-71bps). Meanwhile, market activity was much improved today, as volume and value traded went up 59% and 96% respectively. Lastly, market breadth remained negative, with only 12 advancers as against 29 decliners for a figure of 0.41x.
                                        
For a breakdown of stock performances, please see the pricelist.

           
What will shape the market tomorrow?
With investor sentiment firmly in negative territory, we expect selloffs to persist in tomorrow's session. However, we do note that the persistent sell-side sentiment creates an opportunity for savvy investors to take positions in these fundamentally sound counters ahead of the release of Q1 results in the coming weeks.                                                                                                                                                                                                                                                                                                       
                              
Stocks to Watch
On the Bid Cart: 
FLOURMILL closed the day 6.90% higher at ₦31.00.The consumer goods counter has gained 19.23% YTD and is trailing its year-high price of ₦34.70, while outperforming the sector which has lost 2.68% YTD.



On the Offer Cart: The Banking sector continues to shed points, dropping 312bps after GUARANTY, ZENITHBANK, UBA, ETI, FBNH, FCMB UBN and STERLNBNK all closed in the red. The sector is currently the worst performer on the bourse, having lost 13.64% YTD.
        
                                                   
Equity Dealing Desk
Vetiva Securities Limited
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Lagos, NIGERIA
Tel: +234-1-4617521-3, 2700657-8; Fax: +234-1-4617524. 
Website:
www.vetiva.com 

Disclaimer
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Any ratings, forecasts, estimates and opinions set forth in this report constitute the analyst(s)' position as at the date and time of this report and may not necessarily be so after the report date and time, as they are subject to change without notice. It is also instructive to note that a company's past performance is not necessarily indicative of its future performance as estimates are based on assumptions that may or may not be realized. The value, price or income from investments mentioned in this report may fall, as well as rise, due to economic conditions, industry cycles, market indices, operational or financial conditions of companies or other factors. Thus, Vetiva and its officers and employees shall not accept liability for any loss arising from the use of this report or its contents in making investment decisions or recommendations.
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