From the trader's desk...
The Nigerian bourse closed lower in today's session, ending the last trading session of the week down by 15 bps to close at 47,282.67 points. Sell downs in stocks such as MRS (-996bps), ACCESS (-577bps), BUAFOODS (-309bps), NGXGROUP (-147bps), and INTBREW (-98bps) overshadowed gains in PZ (+955bps), TRANSCORP (+179bps), UCAP (+121bps), and ZENITHBANK (+76bps), as market breadth closed in the red (0.65x) after 20 stocks yielded to the sell pressure and only 13 advanced. Speaking to this week's sectoral performance, only the industrial goods sector closed in the green with a 14bps gain, despite the three sessions of flat closes. Meanwhile, on the back of the 331m cross trade in ETRANZACT, which accounted for 55% of the day's volume, total market volume improved by 150.07% to close at 599m units. However, turnover dipped marginally by 1.56% to print at ₦3.8 billion.
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
We expect to see a tepid start to next week's trading, as investors continue to trade in line with the earnings report released into the market. We also anticipate some profit-taking activity on some of this week's gainers.
Stocks to Watch
On the bid Cart: PZ closed the day and week with a 9.55% and 17.00% capital gain, settling at year-high of ₦8.60. The consumer goods stock has also returned a YTD profit of 40.98%.
On the Offer Cart: After trading flat ₦13.55 since January 10th, MRS closed the session as the worst performing stock, shedding 9.96% to settle at ₦12.20. The oil and gas company has lost a marginal 1.21% YTD.
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