From the trader's desk...
The equity market extended its losing streak, as the All-Share Index shed 3bps to close at 42,230.48 points. Despite the significant improved in sectoral performance, the market was dragged by the losses in MTNN (-44bps), JBERGER (-988bps), FBNH (-250bps), HONYFLOUR (-143bps), and TRANSCORP (-102bps) among others, offsetting gains in counters like OANDO (+526bps), UBA (+127bps), UACN (+53bps), and WAPCO (+43bps). Market activity declined marginally, with trade volumes decreasing by 5.77% to 211m units, while turnover fell by 7.26% to ₦2.4 billion, with cross trades in UACN (64.7m units at ₦9.50) accounting for 31% of total traded volume. Lastly, market breadth closed at 1.27x after 14 stocks closed up, while 11 declined.
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
So far, activity level has been on a decline as we gradually approach the last trading sessions of the year. We still expect a mixed session to close out the week, with slight recovery in the ASI barring any significant price dip in any of the large-cap stocks.
Stocks to Watch
On the bid Cart: UBN closed the session as the best performing stock following Wednesday's negative close. The banking counter settled at ₦5.05, reducing YTD loss to 5.61%.
On the Offer Cart: After repeated sessions of trading on full offer, JBERGER yielded to the sell pressure, shedding 9.88% to close at ₦22.35. However, the industrial sector company has returned 25.56% YTD.
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