From the trader's desk...
Despite the second consecutive flat close in the industrial space and only the insurance sector closing in the green, the equity market pulled a marginal win of 3 bps to settle at 47,353.22 points. Gains in counters such as UACN (+10.00%), PRESCO (+640bps), NGXGROUP (+193bps), FIDELITYBK (+171bps), and TRANSCORP (+90bps) barely cancelled out losses in SEPLAT (-312bps), NB (-198bps), DANGSUGAR (-125bps), and UBA (-58bps). However, traded volume and turnover increased by 64.39% and 53.51% to 239m units and ₦3.8 billion respectively, with trades in MTNN, GTCO, and SEPLAT accounting for 44.42% of market turnover. Similar to yesterday's session, market breath closed at 1.06x, after 18 stocks gained and 17 lost.
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
We expect another mixed sectoral performance to close out the week, with demand in Tier-I banking names elevating activity level amid cherry-picking activities across board.
Stocks to Watch
On the bid Cart: With the increased demand in UACN seen in recent sessions, the stock closed the day limit up to settle at a new year-high of ₦12.10, representing a YTD profit of 27.37%.
On the Offer Cart: SEPLAT closed on the top losers chat after a 3.13% price decline. The oil and gas company has lost 6.06% this week, however, YTD return still at an impressive 43.08%.
Equity Dealing Desk
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