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Equity Market Report - 13th October, 2021
(Source: Vetiva Research, Date: 14-Oct-2021)


From the trader's desk...
Consolidating on yesterday's positive close, the equity market ended the session
38bps up to settle at 41,051.19 points.  All sectors contributed to the ASI moving further north, with the banking index leading the pack with a 140bps gain, largely on the back of capital gains in the likes of STERLNBANK (+479ps), UBA (+311bps), FBNH (+282bps), and FIDELITYBK (+266bps). Gains were also recorded in CHAMPION (+988bps), OKOMUOIL (+823bps), and WAPCO (+249bps), reducing the impact of losses in FTNCOCOA (-800bps), IKEJAHOTEL (-455bps), WEMABANK (-395bps) and HONYFLOUR (-178bps). Furthermore, market activity declined, with trade volumes decreasing by 20.87% to 446 million units, while turnover fell by 12.36% to ₦4.4 billion, as demand in FBNH continue to boost activity levels. This time, total traded shares of 148m units in FBNH, accounted for 37.44% market turnover. With buy sentiment dominating the market, market breadth stayed positive at 2.07x, after 29 stocks gained and 14 declined.

For a breakdown of stock performances, please see the pricelist.



What will shape the market tomorrow?
We do not expect any major shift from today's session, as we foresee continued buy-side interest in some banking names while investors also continue to trade in line with corporate disclosures released, as seen in CHAMPION.
 

Stocks to Watch
 
On the bid Cart: Upward price movement continues in CHAMPION, following its 10.00% gain yesterday. The counter advanced by
9.88% to close the day at ₦2.78, representing a WTD return of 32.38%. The consumer goods counter has returned 223.26% YTD.
  


On the Offer Cart: FTNCOCOA was the biggest loser today, falling
8.00% to close the session at ₦0.46, extending YTD loss to 30.30%.



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