From the trader's desk...
The Bourse ended the last trading session of the week with a 1bp uptick, however WTD return closed negative at 67bps, on the back of declines seen across board, as all sectoral indices closed south. With a total of 16 stocks closing in the red, market breath contracted to 0.94x, as losses were recorded in the likes of FCMB (-722bps), TRANSCORP (-273bps), UACN (-250bps), HONYFLOUR (-193bps), and FBNH (-166bps), almost eroding gains in PZ (+690bps), NGXGROUP (+217bps), ZENITHBANK (+113bps), and UBA (+66bps). Lastly, activity level close out the week on a relatively quiet note, with a 17.52% decline in volume, while turnover improved by 59.21% to print at ₦4.1 billion, due to the large volume trades done in NESTLE which accounted for 46.66% of the day's turnover.
For a breakdown of stock performances, please see the pricelist.
What will shape the market tomorrow?
We anticipate further mixed sentiments to start off the new week, amid gradual fizzling out of the effects of corporate actions that has dominated market activities.
Stocks to Watch
On the bid Cart: PZ closed as the best performing stock today, consolidating this week's positive returns to 8.14%. The consumer goods stock closed at ₦5.00, with YTD profit now at impressive 52.46%.
On the Offer Cart: FCMB traded mixed this week, closing bearish with a net loss of 2.05%. The banking counter settled at ₦3.34, with YTD return at 11.71%.
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