twitterTweet this! Post to your twitter status
Equity Market Report - 22nd October, 2021
(Source: Vetiva Research, Date: 22-Oct-2021)

From the trader's desk...
The positive run extended to the last trading day of the week, as the ASI rose
14bps to close at 41,763.26 points. Investors bought up PZ (+926bps), TOTAL (+617bps), ETERNA (+390bps), STANBIC (+380bps), and GUINNESS (+103bps), while the likes of NGXGROUP (-658bps), JBERGER (-196bps), GTCO (-172bps), and FLOURMILL (-68bps) were among the losers, as the week ended in the green, gaining 78bps WoW. Speaking to sectoral performance, the oil and gas index led the pack with a 248bps gain, erasing the losses posted during the week, as WTD return for the sector closed at 140bps. Meanwhile, market activity recovered from previous lows, as volume and value traded improved by 135% and 73% to 510m units and ₦5.8 billion respectively, with FBN accounting for 32% of market turnover. Lastly, market breadth remained positive at 1.21x, after 23 stocks gained and 19 declined.

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

What will shape the market tomorrow?
Despite the fresh listing of NGXGROUP on the exchange,  activity levels declined this, as interest in the banking space continues to  wane. Therefore, we expect market to trade mixed on Monday, as investors continue to bargain hunt while taking profit on recent gainers.  
Stocks to Watch
On the bid Cart: After trading flat at 13.20 since September 30th, UNILEVER closed the week on the top gainers chart, rising
9.85% to settle at ₦14.50. The consumer goods company improved YTD return to 4.32%, outperforming the industry that has lost 2.15% YTD.  

On the Offer Cart: NGXGROUP's rally was short-lived after four straight sessions of price appreciation, investors started to take profit today, causing the stock to shed
6.58% to close at ₦22.00.

Equity Dealing Desk
Vetiva Securities Limited
Plot 266B, Kofo Abayomi Street
P. O. Box 73530 Victoria Island
Tel: +234-1-4617521-3, 2700657-8; Fax: +234-1-4617524. 

This report is based on public information which the analyst(s) consider credible and reliable. Whilst reasonable care has been taken in preparing this report, no responsibility or liability is accepted either by Vetiva Securities Limited and its affiliates (...Vetiva" ), its officers or any of its employees for any error of fact or opinion expressed herein. No reliance should be placed on the accuracy, fairness or completeness of the information contained in this report as it has not been verified by the analyst(s) involved or the companies whose securities have been referred to, except as otherwise disclosed. Neither Vetiva nor any of its officers or employees including the writer(s) warrant or represent the accuracy or completeness of information set out in this report.
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.
This report provides general information only. It is not intended to provide personal investment advice and does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.  Investments and securities discussed in this report may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them. Users of this report should independently determine the suitability and evaluate the investment risks associated with investments and securities discussed in this report. All investors are solely responsible for their investment decisions. Any decision to purchase or subscribe for securities in any offering must be based solely on existing public information on such security or the information in the prospectus or other offering document issued in connection with such offering, and not on this report. Vetiva, through other business units may have issued and may in the future issue trading ideas or recommendations that are inconsistent with, and reach different conclusions from, the information presented in this report. Such ideas or recommendations reflect the different time frames, assumptions, views and analytical methods of the persons who prepared them, and Vetiva is under no obligation to ensure that such other trading ideas or recommendations are brought to the attention of any recipient of this report. Vetiva may make investment decisions or take proprietary positions that are inconsistent with the recommendations or views in this report. To the extent that this report discusses any legal proceeding or issue, it has not been prepared as nor is it intended to express any legal conclusion, opinion or advice. Information relating to the tax status of companies whose securities are discussed in this report is not intended to provide tax advice or to be used by anyone to provide tax advice.
By accepting and making use of this report, you agree to be bound by the foregoing limitations.
No portion of this document may be reprinted, sold or redistributed without the written consent of Vetiva Securities Limited.

Additional information on recommended securities/instruments is available on request.
© 2021 Vetiva Capital Management Limited. All rights reserved.
"Information in this message is confidential and may be legally privileged. It is intended solely for the person to whom it is addressed. If you are not the intended recipient, you should not disseminate, distribute, copy or rely on this e-mail. If you have received this e-mail in error, kindly delete the message from your system immediately and notify us at:". This e-mail may not have been sent with the authority or consent of Vetiva; therefore, any view, opinion or conclusion expressed therein does not necessarily represent those of Vetiva or any of its affiliates. Computer viruses can be transmitted via e-mail. The recipient should check this e-mail and any attachments for viruses. Vetiva accepts no liability for any damage caused by any virus transmitted via this e-mail.



Top News

View More News