Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... CHAMS 9.52  AIRTELAFRI 9.39  FTNCOCOA 6.06  VERITASKAP 4.76  ROYALEX 3.64  CHIPLC 1.56  CUSTODIAN 1.43  NGXGROUP 1.32  UACN 1.18  MORISON 0.92  STANBICETF30 -10.00  CHAMPION -10.00  MCNICHOLS -10.00  PZ -9.92  REGALINS -9.68  NEM -9.25  FBNH -8.66  LINKASSURE -8.33  RTBRISCOE -8.33  NAHCO -7.55 
Equity Market Report - 12th November, 2021
(Source: Vetiva Research, Date: 12-Nov-2021)


From the trader's desk...
After the bullish start in the week from the telecoms space, the market closed the week on a negative note, shedding
68bps to settle at 43,253.01 points, as investors took profit in LIVESTOCK (-868bps), MTNN (-450bps), HONYFLOUR (-395bps), WEMABANK (-233bps), and AIICO (-78bps), while the price appreciations in FBNH (+435bps), MANSARD (+411bps), UBA (+368bps) and FLOURMILL (+154bps) weren't enough to lift the index. Weekly sectoral performance worsened, with only the consumer goods sector closing the week 63bps up, while the remaining closed negative. Meanwhile, market activity recovered from previous lows, as volume and value traded improved by 95% and 117% to 314m units and ₦4.6 billion respectively, with FBN accounting for 41% of total traded volume. Lastly, market breadth recovered slightly to 1.1x, after 16 stocks closed up, while 15 declined.

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



What will shape the market tomorrow?
The market traded mixed this week. However, in comparison to the prior week, turnover improved by 69% due to increased activity in some of the large/mid cap names like MTNN, AIRTEL and FLOURMILL, with overall sentiment still largely bearish. We anticipate this tepid sentiment to persist as there are no major catalysts to spur activity.

   
Stocks to Watch
 
On the bid Cart: After trading flat at ₦0.21 since October 29th, VERITASKAP ended the week on the top gainers chart, rising
9.52% to close at ₦0.23, improving YTD return to 15.00%.   
  


On the Offer Cart: Investors took profit in LIVESTOCK, closing the last trading session of the week
8.68% down to settle at ₦2.00. However, the consumer goods company has returned 43.88% YTD.



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

Disclaimer
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.
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